Woodmont Investment Counsel LLC Reduces Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Woodmont Investment Counsel LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,895 shares of the oil and gas producer’s stock after selling 22,713 shares during the period. Woodmont Investment Counsel LLC’s holdings in Enterprise Products Partners were worth $5,279,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth $28,000. Stephens Consulting LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth $29,000. Financial Gravity Asset Management Inc. bought a new position in Enterprise Products Partners in the third quarter valued at $48,000. Community Bank N.A. boosted its holdings in shares of Enterprise Products Partners by 68.3% during the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 750 shares during the period. Finally, American National Bank purchased a new stake in Enterprise Products Partners in the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EPD shares. Wells Fargo & Company raised their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Morgan Stanley cut their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Scotiabank lifted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Finally, Truist Financial lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $32.77.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock traded down $0.04 during trading on Tuesday, hitting $28.95. 1,323,777 shares of the company’s stock were exchanged, compared to its average volume of 4,461,372. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $29.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The business has a 50-day simple moving average of $28.52 and a 200-day simple moving average of $27.90. The stock has a market capitalization of $62.87 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.35 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were given a $0.515 dividend. The ex-dividend date was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.12%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

Enterprise Products Partners 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.