Insigneo Advisory Services LLC Lowers Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Insigneo Advisory Services LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,060 shares of the oil and gas producer’s stock after selling 2,052 shares during the period. Insigneo Advisory Services LLC’s holdings in Enterprise Products Partners were worth $441,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kayne Anderson Capital Advisors LP increased its position in shares of Enterprise Products Partners by 16.7% during 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 acquiring an additional 1,947,017 shares during the period. Barclays PLC increased its holdings in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the period. KDK Private Wealth Management LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at about $22,333,000. Strategic Financial Concepts LLC boosted its stake in shares of Enterprise Products Partners by 3,884.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after buying an additional 665,716 shares during the period. Finally, Fisher Funds Management LTD acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth about $13,599,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EPD shares. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. StockNews.com raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Stock Up 2.0 %

Shares of NYSE:EPD opened at $31.05 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market cap of $67.25 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The firm has a fifty day moving average price of $32.65 and a 200 day moving average price 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.89%. Enterprise Products Partners’s payout ratio is currently 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.