Hollow Brook Wealth Management LLC Reduces Holdings in Enterprise Products Partners L.P. $EPD

Hollow Brook Wealth Management LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,726 shares of the oil and gas producer’s stock after selling 23,458 shares during the period. Enterprise Products Partners accounts for approximately 1.3% of Hollow Brook Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Hollow Brook Wealth Management LLC’s holdings in Enterprise Products Partners were worth $5,121,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EPD. Miller Howard Investments Inc. NY lifted its holdings in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after acquiring an additional 31,733 shares during the last quarter. Royal Palms Capital LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $1,830,000. PNC Financial Services Group Inc. lifted its holdings in shares of Enterprise Products Partners by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock worth $39,153,000 after acquiring an additional 36,339 shares during the last quarter. Oxbow Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after acquiring an additional 39,052 shares during the last quarter. Finally, Texas Yale Capital Corp. lifted its holdings in shares of Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after acquiring an additional 88,475 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Insider Activity at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of the company’s stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the transaction, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $36.54 on Tuesday. The firm has a market cap of $78.98 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.49. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The company’s 50 day moving average is $37.98 and its two-hundred day moving average is $35.72.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

Wall Street Analysts Forecast Growth

EPD has been the topic of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, May 21st. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, March 25th. Barclays upped their price objective on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Finally, Truist Financial upped their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.67.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.