Distillate Capital Partners LLC Sells 884,489 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Distillate Capital Partners LLC lessened its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 53.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 777,693 shares of the oil and gas producer's stock after selling 884,489 shares during the quarter. Enterprise Products Partners makes up about 1.2% of Distillate Capital Partners LLC's investment portfolio, making the stock its 18th largest holding. Distillate Capital Partners LLC's holdings in Enterprise Products Partners were worth $24,388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont grew its stake in shares of Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock worth $104,000 after buying an additional 300 shares in the last quarter. Griffin Asset Management Inc. lifted its holdings in shares of Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock valued at $1,203,000 after acquiring an additional 305 shares during the last quarter. Evanson Asset Management LLC grew its position in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock worth $2,304,000 after acquiring an additional 306 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock worth $78,000 after acquiring an additional 308 shares during the last quarter. Finally, Sandbox Financial Partners LLC raised its position in Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock valued at $317,000 after purchasing an additional 309 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Enterprise Products Partners Trading Up 2.1 %

Shares of NYSE EPD traded up $0.63 during trading hours on Tuesday, reaching $30.95. The stock had a trading volume of 4,588,650 shares, compared to its average volume of 4,386,765. The business's fifty day moving average price is $32.79 and its two-hundred day moving average price is $31.87. The firm has a market cap of $67.03 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. 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 posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The business's revenue was down 2.9% compared to the same quarter last year. Analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.91%. Enterprise Products Partners's dividend payout ratio is presently 79.55%.

Analyst Upgrades and Downgrades

EPD has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Barclays increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Truist Financial lifted 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 note on Friday, January 3rd. StockNews.com upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.89.

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.