Kornitzer Capital Management Inc. KS Has $1.57 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Kornitzer Capital Management Inc. KS lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,920 shares of the oil and gas producer’s stock after selling 2,730 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Enterprise Products Partners were worth $1,565,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Hamlin Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 0.5% during the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after buying an additional 24,335 shares in the last quarter. Brookfield Corp ON grew its holdings in shares of Enterprise Products Partners by 6.2% during the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after buying an additional 278,892 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after buying an additional 200,625 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on EPD. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Citigroup raised their price target on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $33.62 on Thursday. 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 12 month low of $27.20 and a 12 month high of $34.63. The stock has a 50 day moving average of $32.58 and a 200-day moving average of $30.88. The company has a market capitalization of $72.86 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.57 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the company posted $0.72 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.37%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.