Forum Financial Management LP Sells 8,994 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Forum Financial Management LP lessened its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,370 shares of the oil and gas producer's stock after selling 8,994 shares during the period. Forum Financial Management LP's holdings in Enterprise Products Partners were worth $607,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its position in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the period. Eaton Financial Holdings Company LLC bought a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $1,066,000. Stock Yards Bank & Trust Co. grew its stake in Enterprise Products Partners by 6.1% in the third quarter. Stock Yards Bank & Trust Co. now owns 60,844 shares of the oil and gas producer's stock worth $1,771,000 after purchasing an additional 3,500 shares during the period. World Investment Advisors LLC raised its holdings in Enterprise Products Partners by 47.7% in the third quarter. World Investment Advisors LLC now owns 39,750 shares of the oil and gas producer's stock worth $1,157,000 after purchasing an additional 12,839 shares in the last quarter. Finally, Arvest Bank Trust Division purchased a new position in Enterprise Products Partners during the third quarter valued at $445,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of analyst reports. Wolfe Research cut shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. StockNews.com raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Morgan Stanley boosted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 11th. Finally, Scotiabank raised their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.

Enterprise Products Partners Price Performance

Shares of EPD traded up $0.01 during trading hours on Wednesday, reaching $30.71. 5,485,679 shares of the stock traded hands, compared to its average volume of 4,390,943. 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. The company has a market cap of $66.50 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The company's 50-day moving average price is $32.50 and its two-hundred day moving average price is $31.91.

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 analysts' consensus estimates 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 return on equity of 20.48% and a net margin of 10.49%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given 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 6.97%. Enterprise Products Partners's dividend payout ratio is 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.