Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Cohen & Steers Inc.

Cohen & Steers Inc. trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 27.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 220,494 shares of the oil and gas producer’s stock after selling 82,660 shares during the quarter. Cohen & Steers Inc.’s holdings in Enterprise Products Partners were worth $6,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of 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 lifted its holdings 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 boosted its position in Enterprise Products Partners by 16.7% in the 4th 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 grew its stake in shares of Enterprise Products Partners by 10.7% during the 4th 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 increased its holdings in shares of Enterprise Products Partners by 5.0% during the 4th 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. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Morgan Stanley increased their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Barclays increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Stock Up 2.2 %

Enterprise Products Partners stock opened at $30.28 on Tuesday. The company has a market capitalization of $65.58 billion, a P/E ratio of 11.26, a PEG ratio of 1.37 and a beta of 0.78. 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 L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The stock has a 50-day simple moving average of $32.79 and a 200-day simple moving average of $31.87.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the business posted $0.72 earnings per share. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 7.07%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 79.55%.

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.