Moloney Securities Asset Management LLC Cuts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Moloney Securities Asset Management LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,699 shares of the oil and gas producer’s stock after selling 2,212 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Enterprise Products Partners were worth $1,151,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EPD. CWM LLC boosted its holdings in shares of Enterprise Products Partners by 8.4% in the 3rd quarter. CWM LLC now owns 72,044 shares of the oil and gas producer’s stock worth $2,097,000 after purchasing an additional 5,590 shares in the last quarter. LongView Wealth Management bought a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $229,000. Valeo Financial Advisors LLC grew its position in Enterprise Products Partners by 5.5% during the third quarter. Valeo Financial Advisors LLC now owns 105,033 shares of the oil and gas producer’s stock valued at $3,058,000 after acquiring an additional 5,482 shares during the last quarter. Lion Street Advisors LLC raised its stake in shares of Enterprise Products Partners by 5.6% during the third quarter. Lion Street Advisors LLC now owns 11,201 shares of the oil and gas producer’s stock worth $326,000 after acquiring an additional 596 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Enterprise Products Partners by 3.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 808,154 shares of the oil and gas producer’s stock worth $23,525,000 after acquiring an additional 26,063 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $32.96 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a fifty day moving average of $32.50 and a 200 day moving average of $30.65. The firm has a market capitalization of $71.45 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a 52 week low of $26.14 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share 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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.49%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given 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 target price of $34.70.

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.