Chickasaw Capital Management LLC Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Chickasaw Capital Management LLC lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,461,487 shares of the oil and gas producer's stock after selling 39,991 shares during the period. Enterprise Products Partners accounts for approximately 6.9% of Chickasaw Capital Management LLC's holdings, making the stock its 6th biggest holding. Chickasaw Capital Management LLC owned 0.25% of Enterprise Products Partners worth $171,272,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. boosted 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 valued at $35,000 after buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth about $36,000. Bangor Savings Bank increased its stake in shares of Enterprise Products Partners by 558.3% in 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 in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Enterprise Products Partners during the third quarter worth about $49,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

EPD stock traded up $0.01 on Tuesday, hitting $31.94. The company had a trading volume of 2,931,425 shares, compared to its average volume of 3,224,165. The stock has a market cap of $69.23 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.67 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock's 50-day simple moving average is $31.46 and its 200 day simple moving average is $29.99. Enterprise Products Partners L.P. has a 12-month low of $26.12 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EPD shares. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 price target on the stock. Finally, Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and an average target price of $34.50.

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.