Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 222,257 shares of the oil and gas producer’s stock after selling 14,687 shares during the period. King Luther Capital Management Corp’s holdings in Enterprise Products Partners were worth $6,970,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rosenberg Matthew Hamilton increased its stake 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 purchasing an additional 656 shares in the last quarter. Assetmark Inc. increased its position in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares in the last quarter. Bangor Savings Bank raised its stake in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at approximately $40,000. Finally, GHP Investment Advisors Inc. grew its stake in Enterprise Products Partners by 32.5% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 325 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Scotiabank upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Truist Financial raised their price target 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. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.30.

Enterprise Products Partners Trading Down 1.4 %

Shares of EPD stock opened at $33.18 on Wednesday. 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 twelve month low of $27.37 and a twelve month high of $34.63. The company’s 50-day moving average price is $33.14 and its 200-day moving average price is $31.33. The stock has a market cap of $71.85 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its 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. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.45%. Enterprise Products Partners’s dividend payout ratio (DPR) is 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.