Scotia Capital Inc. Sells 820 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Scotia Capital Inc. cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 157,566 shares of the oil and gas producer’s stock after selling 820 shares during the period. Scotia Capital Inc.’s holdings in Enterprise Products Partners were worth $4,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of EPD. Invesco Ltd. increased its holdings in Enterprise Products Partners by 1.3% in the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after buying an additional 359,288 shares during the period. FMR LLC increased its stake in Enterprise Products Partners by 2.1% in the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock valued at $462,067,000 after acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP raised its position in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. LPL Financial LLC lifted its stake in Enterprise Products Partners by 10.7% during the fourth quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock worth $104,310,000 after purchasing an additional 321,145 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its holdings in Enterprise Products Partners by 5.0% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock valued at $100,646,000 after purchasing an additional 153,083 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of recent research reports. Truist Financial increased their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Barclays boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. 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. Finally, 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 note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Trading Up 1.2 %

Shares of NYSE EPD opened at $29.29 on Friday. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a 50-day moving average of $32.84 and a two-hundred day moving average of $31.84. The company has a market cap of $63.44 billion, a PE ratio of 10.89, a P/E/G ratio of 1.37 and a beta of 0.78. 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 (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $0.72 EPS. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 7.31%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is 79.55%.

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.