Verity Asset Management Inc. Sells 63,811 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Verity Asset Management Inc. reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 43.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,737 shares of the oil and gas producer’s stock after selling 63,811 shares during the period. Enterprise Products Partners accounts for about 1.4% of Verity Asset Management Inc.’s portfolio, making the stock its 12th largest position. Verity Asset Management Inc.’s holdings in Enterprise Products Partners were worth $2,626,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in shares of Enterprise Products Partners by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock valued at $739,000 after purchasing an additional 570 shares during the last quarter. Park Avenue Securities LLC raised its stake in Enterprise Products Partners by 4.2% in the third quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer’s stock valued at $1,066,000 after buying an additional 1,474 shares during the last quarter. Walnut Private Equity Partners LLC boosted its holdings in Enterprise Products Partners by 0.9% in the third quarter. Walnut Private Equity Partners LLC now owns 700,000 shares of the oil and gas producer’s stock worth $20,520,000 after acquiring an additional 6,000 shares in the last quarter. Chemistry Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter worth about $302,000. Finally, SL Advisors LLC increased its holdings in shares of Enterprise Products Partners by 3.1% during the third quarter. SL Advisors LLC now owns 73,064 shares of the oil and gas producer’s stock valued at $2,127,000 after acquiring an additional 2,226 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $33.22 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company’s fifty day moving average price is $32.53 and its 200 day moving average price is $30.54. The stock has a market capitalization of $72.00 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) 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 period last year, the business earned $0.72 EPS. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. 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 6.44%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EPD shares. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.44.

Enterprise Products Partners 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.