Ellis Investment Partners LLC Sells 468 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Ellis Investment Partners LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,795 shares of the oil and gas producer’s stock after selling 468 shares during the period. Ellis Investment Partners LLC’s holdings in Enterprise Products Partners were worth $601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Fairfield Bush & CO. bought a new position in Enterprise Products Partners during the first quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Enterprise Products Partners by 2.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after purchasing an additional 169,059 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Enterprise Products Partners by 4.7% during the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after purchasing an additional 1,114,690 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of Enterprise Products Partners by 3.2% during the 1st quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock valued at $2,307,000 after purchasing an additional 2,804 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Enterprise Products Partners by 76.5% during the 1st quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock valued at $22,931,000 after purchasing an additional 385,008 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Scotiabank lifted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Mizuho reiterated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Finally, Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $32.58.

Get Our Latest Stock Report on EPD

Enterprise Products Partners Stock Down 0.5 %

Shares of NYSE:EPD traded down $0.16 during trading on Friday, hitting $29.06. 4,728,486 shares of the company were exchanged, compared to its average volume of 4,917,628. The stock has a market cap of $63.01 billion, a price-to-earnings ratio of 11.57 and a beta of 1.02. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The firm has a fifty day moving average price of $28.09 and a two-hundred day moving average price of $27.21. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.62 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.09%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Enterprise Products Partners Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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