Investment Management Associates Inc. ADV Cuts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Investment Management Associates Inc. ADV trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 538,824 shares of the oil and gas producer's stock after selling 7,590 shares during the period. Enterprise Products Partners makes up about 7.4% of Investment Management Associates Inc. ADV's investment portfolio, making the stock its 6th largest holding. Investment Management Associates Inc. ADV's holdings in Enterprise Products Partners were worth $16,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in shares of Enterprise Products Partners by 84.6% in the third quarter. Sequoia Financial Advisors LLC now owns 44,690 shares of the oil and gas producer's stock worth $1,301,000 after buying an additional 20,475 shares during the period. Eastern Bank purchased a new stake in shares of Enterprise Products Partners in the third quarter worth $63,000. Symphony Financial Ltd. Co. bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $201,000. Private Advisor Group LLC lifted its stake in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 377,263 shares of the oil and gas producer's stock valued at $10,982,000 after buying an additional 13,890 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer's stock worth $37,474,000 after buying an additional 1,243,741 shares during the period. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Trading Down 0.5 %

EPD stock traded down $0.18 during midday trading on Friday, reaching $33.41. 5,511,541 shares of the company traded hands, compared to its average volume of 4,835,167. The firm has a market capitalization of $72.41 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.38 and a beta of 1.09. Enterprise Products Partners L.P. has a 52-week low of $27.26 and a 52-week high of $34.63. The business has a 50 day moving average of $32.60 and a 200-day moving average of $30.89. 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 quarterly 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 company had revenue of $14.20 billion for 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%. Enterprise Products Partners's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share 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. Investors of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.41%. Enterprise Products Partners's payout ratio is currently 79.55%.

Analysts Set New Price Targets

EPD has been the topic of several research analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank started coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 target price on the stock. Truist Financial raised their target price 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, January 3rd. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Finally, Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $34.70.

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.