Beach Investment Counsel Inc. PA Has $65.11 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Beach Investment Counsel Inc. PA cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,076,112 shares of the oil and gas producer’s stock after selling 58,212 shares during the quarter. Enterprise Products Partners makes up 8.8% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its largest position. Beach Investment Counsel Inc. PA owned 0.10% of Enterprise Products Partners worth $65,107,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rosenberg Matthew Hamilton grew its holdings 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 in the last quarter. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. lifted its holdings 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 worth $35,000 after buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Enterprise Products Partners during the third quarter worth approximately $36,000. Finally, Bangor Savings Bank increased its position 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 period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EPD shares. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.44.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $33.04 on Tuesday. 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 1-year low of $26.12 and a 1-year high of $34.63. The firm has a market capitalization of $71.61 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The firm’s 50 day simple moving average is $32.53 and its 200 day simple moving average is $30.54.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 10.32% and a return on equity of 20.31%. During the same quarter in the previous year, the company posted $0.72 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.48%. Enterprise Products Partners’s dividend payout ratio is 80.15%.

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.