Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Pointe Capital Management LLC

Pointe Capital Management LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,188 shares of the oil and gas producer’s stock after selling 2,975 shares during the quarter. Pointe Capital Management LLC’s holdings in Enterprise Products Partners were worth $1,006,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in EPD. Alps Advisors Inc. grew its stake in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after acquiring an additional 6,369,350 shares during the period. Blackstone Inc. grew its stake in Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after buying an additional 2,472,847 shares during the period. American Century Companies Inc. lifted its holdings in shares of Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after acquiring an additional 2,155,640 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Enterprise Products Partners by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after purchasing an additional 1,325,390 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Enterprise Products Partners by 2,436.1% in the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after purchasing an additional 1,125,117 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPD has been the subject of several analyst reports. Truist Financial upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. 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. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Mizuho reiterated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $32.75.

Enterprise Products Partners Stock Up 0.2 %

NYSE:EPD traded up $0.05 during mid-day trading on Friday, reaching $28.10. The stock had a trading volume of 3,599,060 shares, compared to its average volume of 5,182,867. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The stock’s 50 day simple moving average is $28.64 and its two-hundred day simple moving average is $27.35. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The company has a market capitalization of $60.93 billion, a price-to-earnings ratio of 11.02 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.33%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

About Enterprise Products Partners

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.