Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,691,566 shares of the oil and gas producer's stock after selling 231,555 shares during the quarter. Principal Financial Group Inc. owned about 0.26% of Enterprise Products Partners worth $178,488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. FMR LLC lifted its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock valued at $225,777,000 after purchasing an additional 7,494,224 shares during the period. Hamlin Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer's stock valued at $143,336,000 after purchasing an additional 24,335 shares during the period. Brookfield Corp ON lifted its stake in shares of Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer's stock valued at $138,639,000 after purchasing an additional 278,892 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer's stock valued at $118,561,000 after purchasing an additional 200,625 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Wolfe Research downgraded shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a "sector perform" rating and a $33.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.70.

Enterprise Products Partners Stock Performance

EPD stock traded down $0.18 during trading on Friday, hitting $33.41. 5,511,541 shares of the company's stock traded hands, compared to its average volume of 4,835,167. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 52 week low of $27.26 and a 52 week high of $34.63. The stock has a fifty day moving average price of $32.63 and a two-hundred day moving average price of $30.93. The stock has a market capitalization of $72.41 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.09.

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, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.41%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio is currently 79.55%.

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.