Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 38.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 611,902 shares of the oil and gas producer's stock after selling 381,364 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Enterprise Products Partners were worth $19,189,000 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 EPD. Kayne Anderson Capital Advisors LP boosted its stake in shares of Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock worth $426,125,000 after buying an additional 1,947,017 shares during the last quarter. LPL Financial LLC lifted its holdings in Enterprise Products Partners by 10.7% in the fourth quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer's stock valued at $104,310,000 after acquiring an additional 321,145 shares during the period. Miller Howard Investments Inc. NY boosted its position in Enterprise Products Partners by 5.0% in 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 in the last quarter. HighTower Advisors LLC grew its stake in shares of Enterprise Products Partners by 1.0% during the 4th quarter. HighTower Advisors LLC now owns 3,136,870 shares of the oil and gas producer's stock worth $98,372,000 after purchasing an additional 31,848 shares during the period. Finally, Barclays PLC increased its holdings in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock valued at $73,699,000 after purchasing an additional 1,326,010 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 a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Truist Financial upped their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Barclays increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. StockNews.com raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Scotiabank increased their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Four equities 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 company's stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of "Moderate Buy" and an average target price of $36.89.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded up $0.61 during midday trading on Friday, hitting $31.05. The company's stock had a trading volume of 3,638,730 shares, compared to its average volume of 4,371,972. The company has a market cap of $67.25 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The business's 50 day simple moving average is $32.61 and its 200 day simple moving average is $31.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

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

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.89%. Enterprise Products Partners's dividend payout ratio is presently 79.55%.

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.