Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Trimmed by Morningstar Investment Management LLC

Morningstar Investment Management LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 33.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,487 shares of the oil and gas producer's stock after selling 45,389 shares during the period. Morningstar Investment Management LLC's holdings in Enterprise Products Partners were worth $2,775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton raised its stake in shares of 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 period. Assetmark Inc. raised its position in Enterprise Products Partners by 19,800.0% in 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. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners during the third quarter worth about $36,000. Bangor Savings Bank grew its stake 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 valued at $40,000 after buying an additional 1,072 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EPD shares. Wells Fargo & Company cut Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Truist Financial raised their price target 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. 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 price objective on the stock. Royal Bank of Canada restated an "outperform" rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Wolfe Research cut Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and an average target price of $34.70.

Enterprise Products Partners Stock Performance

NYSE:EPD traded down $0.18 during trading hours on Friday, reaching $33.41. 3,756,334 shares of the stock were exchanged, compared to its average volume of 4,759,944. The stock has a market capitalization of $72.41 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.38 and a beta of 1.09. The firm has a 50 day simple moving average of $32.60 and a 200-day simple moving average of $30.89. 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.

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

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.41%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio (DPR) 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.