Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 12.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 293,967 shares of the oil and gas producer's stock after selling 42,018 shares during the period. Bank of New York Mellon Corp's holdings in Enterprise Products Partners were worth $9,219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock valued at $420,037,000 after buying an additional 1,225,988 shares during the period. Brookfield Corp ON grew its stake in shares of Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer's stock valued at $138,639,000 after buying an additional 278,892 shares during the period. Thrivent Financial for Lutherans boosted its position in Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer's stock worth $118,561,000 after purchasing an additional 200,625 shares during the period. Stifel Financial Corp boosted its position in Enterprise Products Partners by 0.3% during the 3rd quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer's stock worth $101,032,000 after purchasing an additional 9,257 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its position in Enterprise Products Partners by 5.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer's stock worth $100,646,000 after purchasing an additional 153,083 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Enterprise Products Partners Stock Performance

EPD traded down $0.12 on Tuesday, hitting $33.80. 2,424,312 shares of the company's stock were exchanged, compared to its average volume of 4,827,421. The firm has a market cap of $73.20 billion, a PE ratio of 12.57, a P/E/G ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The stock has a fifty day moving average of $33.27 and a two-hundred day moving average of $31.44. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share 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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. Enterprise Products Partners's quarterly revenue was down 2.9% on a year-over-year basis. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This is a boost 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 6.33%. Enterprise Products Partners's dividend payout ratio is 79.55%.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research reports. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Truist Financial upped their price target 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. Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Morgan Stanley boosted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. Finally, Scotiabank boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.90.

Enterprise Products Partners Company 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.