Enterprise Products Partners L.P. (NYSE:EPD) Holdings Lessened by Heronetta Management L.P.

Heronetta Management L.P. lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 554,548 shares of the oil and gas producer’s stock after selling 4,100 shares during the period. Enterprise Products Partners makes up about 11.3% of Heronetta Management L.P.’s investment portfolio, making the stock its largest position. Heronetta Management L.P.’s holdings in Enterprise Products Partners were worth $17,391,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC increased its stake in shares of Enterprise Products Partners by 3.5% in the fourth quarter. Lindbrook Capital LLC now owns 81,618 shares of the oil and gas producer’s stock worth $2,560,000 after buying an additional 2,790 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in shares of Enterprise Products Partners by 38.1% in the fourth quarter. Washington Trust Advisors Inc. now owns 2,900 shares of the oil and gas producer’s stock worth $91,000 after buying an additional 800 shares during the last quarter. Townsend Asset Management Corp NC ADV increased its stake in shares of Enterprise Products Partners by 1.6% in the fourth quarter. Townsend Asset Management Corp NC ADV now owns 20,018 shares of the oil and gas producer’s stock worth $628,000 after buying an additional 321 shares during the last quarter. Promus Capital LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter worth $110,000. Finally, Verdence Capital Advisors LLC increased its stake in shares of Enterprise Products Partners by 8.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 11,727 shares of the oil and gas producer’s stock worth $368,000 after buying an additional 943 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock opened at $33.18 on Thursday. The company has a market capitalization of $71.85 billion, a P/E ratio of 12.33, a PEG ratio of 1.37 and a beta of 1.08. The company has a 50-day simple moving average of $32.98 and a 200 day simple moving average of $31.20. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. 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 (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed 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 6.45%. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Company 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.