Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 474,560 shares of the oil and gas producer’s stock after selling 551 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Enterprise Products Partners were worth $13,814,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EPD. Curi RMB Capital LLC boosted its stake in Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after acquiring an additional 339 shares during the last quarter. Versant Capital Management Inc grew its position in Enterprise Products Partners by 10.7% in the fourth quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock worth $110,000 after buying an additional 340 shares during the last quarter. Zega Financial LLC boosted its position in shares of Enterprise Products Partners by 1.7% in the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock valued at $608,000 after purchasing an additional 344 shares during the period. Tranquility Partners LLC lifted its holdings in shares of Enterprise Products Partners by 1.5% in the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after purchasing an additional 346 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its stake in Enterprise Products Partners by 4.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE:EPD traded down $0.10 during mid-day trading on Friday, reaching $32.34. The stock had a trading volume of 1,674,661 shares, compared to its average volume of 3,033,599. The firm has a 50 day moving average price of $31.65 and a two-hundred day moving average price of $30.05. Enterprise Products Partners L.P. has a one year low of $26.12 and a one year high of $34.63. The stock has a market capitalization of $70.10 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.66 and a beta of 1.09. 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 released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business 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 posted $0.60 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. 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 dividend yield of 6.62%. Enterprise Products Partners’s payout ratio is presently 80.15%.

Analysts Set New Price Targets

Several analysts recently issued reports on EPD shares. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. 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. Truist Financial lifted their target price 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. Finally, Scotiabank started coverage on Enterprise Products Partners in a research report on Friday. They set a “sector perform” rating and a $33.00 target price for the company. Four 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 stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average price target of $34.60.

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.