Choate Investment Advisors Sells 6,343 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Choate Investment Advisors trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 304,621 shares of the oil and gas producer’s stock after selling 6,343 shares during the period. Choate Investment Advisors’ holdings in Enterprise Products Partners were worth $9,557,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Rosenberg Matthew Hamilton lifted its holdings in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares during the period. Assetmark Inc. lifted its holdings in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Bangor Savings Bank lifted its holdings in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares during the period. New Wave Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners during the 4th quarter worth about $40,000. Finally, GHP Investment Advisors Inc. increased its position in shares of Enterprise Products Partners by 32.5% during the 4th quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 325 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on EPD. Morgan Stanley increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Scotiabank increased their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Truist Financial increased their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Barclays increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Stock Up 1.7 %

Shares of NYSE:EPD opened at $33.54 on Friday. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a 50 day moving average of $33.23 and a 200-day moving average of $31.40. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market cap of $72.63 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company earned $0.72 EPS. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.38%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.