King Luther Capital Management Corp Reduces Position in Enterprise Products Partners L.P. (NYSE:EPD)

King Luther Capital Management Corp reduced its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,257 shares of the oil and gas producer's stock after selling 14,687 shares during the quarter. King Luther Capital Management Corp's holdings in Enterprise Products Partners were worth $6,970,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton grew its position in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock valued at $26,000 after acquiring an additional 656 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Bangor Savings Bank grew its holdings in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 1,072 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in Enterprise Products Partners in the 4th quarter worth about $40,000. Finally, GHP Investment Advisors Inc. lifted its holdings in Enterprise Products Partners by 32.5% during the 4th quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer's stock valued at $42,000 after buying an additional 325 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EPD shares. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Morgan Stanley upped their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Scotiabank raised their target price on shares of 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. Wolfe Research cut shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Finally, Citigroup reiterated a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.30.

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Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $33.18 on Wednesday. The company has a 50 day simple moving average of $33.14 and a two-hundred day simple moving average of $31.33. The stock has a market cap of $71.85 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.45%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 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.

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