Enterprise Products Partners L.P. (NYSE:EPD) Stake Reduced by Oakworth Capital Inc.

Oakworth Capital Inc. decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,600 shares of the oil and gas producer’s stock after selling 1,600 shares during the period. Oakworth Capital Inc.’s holdings in Enterprise Products Partners were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in EPD. Bleakley Financial Group LLC boosted its holdings in Enterprise Products Partners by 6.6% during the fourth quarter. Bleakley Financial Group LLC now owns 22,111 shares of the oil and gas producer’s stock worth $693,000 after buying an additional 1,375 shares in the last quarter. Inman Jager Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter valued at $226,000. Tyche Wealth Partners LLC grew its holdings in shares of Enterprise Products Partners by 3.2% in the 4th quarter. Tyche Wealth Partners LLC now owns 32,226 shares of the oil and gas producer’s stock worth $1,011,000 after acquiring an additional 1,007 shares during the last quarter. Tectonic Advisors LLC raised its position in shares of Enterprise Products Partners by 5.4% during the fourth quarter. Tectonic Advisors LLC now owns 570,393 shares of the oil and gas producer’s stock worth $17,888,000 after purchasing an additional 29,180 shares during the period. Finally, Lion Street Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 17.4% during the fourth quarter. Lion Street Advisors LLC now owns 13,147 shares of the oil and gas producer’s stock valued at $412,000 after purchasing an additional 1,946 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.6 %

NYSE EPD opened at $32.84 on Friday. The firm’s fifty day simple moving average is $32.54 and its 200-day simple moving average is $30.61. 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 L.P. has a 1-year low of $26.12 and a 1-year high of $34.63. The company has a market capitalization of $71.17 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping 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%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.52%. 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%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EPD. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Citigroup boosted their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial raised 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 note on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

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.