Enterprise Products Partners L.P. (NYSE:EPD) Stake Lessened by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,860 shares of the oil and gas producer's stock after selling 12,069 shares during the period. Woodmont Investment Counsel LLC's holdings in Enterprise Products Partners were worth $4,292,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in shares of Enterprise Products Partners by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,871 shares of the oil and gas producer's stock worth $2,412,000 after purchasing an additional 607 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $372,000. Nwam LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at $629,000. Certified Advisory Corp increased its stake in Enterprise Products Partners by 68.6% in the third quarter. Certified Advisory Corp now owns 23,077 shares of the oil and gas producer's stock valued at $672,000 after purchasing an additional 9,388 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its position in Enterprise Products Partners by 9.5% during the third quarter. Great Valley Advisor Group Inc. now owns 102,446 shares of the oil and gas producer's stock worth $2,982,000 after buying an additional 8,894 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Enterprise Products Partners Stock Down 0.5 %

Shares of NYSE EPD traded down $0.17 on Tuesday, hitting $33.51. The company had a trading volume of 3,136,011 shares, compared to its average volume of 4,133,382. The firm has a market capitalization of $72.57 billion, a P/E ratio of 12.46, a PEG ratio of 1.37 and a beta of 1.08. 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 12-month low of $27.37 and a 12-month high of $34.63. The business has a 50 day moving average of $33.43 and a two-hundred day moving average of $31.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data 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 for 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 business's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. As a group, equities research 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. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.39%. 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 payout ratio is presently 79.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EPD shares. 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. Barclays lifted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Finally, Truist Financial upped their price target 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. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.90.

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.