AMI Investment Management Inc. Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

AMI Investment Management Inc. lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,122 shares of the oil and gas producer’s stock after selling 511 shares during the period. AMI Investment Management Inc.’s holdings in Enterprise Products Partners were worth $913,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. AE Wealth Management LLC increased its position in shares of Enterprise Products Partners by 67.6% during the 2nd quarter. AE Wealth Management LLC now owns 35,024 shares of the oil and gas producer’s stock valued at $1,015,000 after purchasing an additional 14,122 shares during the last quarter. Pacer Advisors Inc. grew its position in Enterprise Products Partners by 5.2% during the second quarter. Pacer Advisors Inc. now owns 81,517 shares of the oil and gas producer’s stock valued at $2,362,000 after buying an additional 4,038 shares during the period. Summit Trail Advisors LLC increased its holdings in Enterprise Products Partners by 158.7% during the second quarter. Summit Trail Advisors LLC now owns 25,113 shares of the oil and gas producer’s stock valued at $728,000 after buying an additional 15,407 shares during the last quarter. Greenline Partners LLC raised its position in Enterprise Products Partners by 36.4% in the second quarter. Greenline Partners LLC now owns 55,753 shares of the oil and gas producer’s stock worth $1,616,000 after acquiring an additional 14,869 shares during the period. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Enterprise Products Partners by 67.3% during the 2nd quarter. Fidelis Capital Partners LLC now owns 36,776 shares of the oil and gas producer’s stock worth $1,055,000 after acquiring an additional 14,798 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EPD shares. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Truist Financial lifted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners Price Performance

EPD stock opened at $33.60 on Monday. The company has a market capitalization of $72.82 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. The company’s fifty day moving average price is $32.07 and its 200-day moving average price is $30.23. Enterprise Products Partners L.P. has a one year low of $26.12 and a one year high of $34.63. 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) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a positive change 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 6.37%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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.