South Street Advisors LLC Has $776,000 Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

South Street Advisors LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 19.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,730 shares of the oil and gas producer’s stock after selling 5,950 shares during the period. South Street Advisors LLC’s holdings in Enterprise Products Partners were worth $776,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Axxcess Wealth Management LLC increased its position in Enterprise Products Partners by 2.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 14,346 shares of the oil and gas producer’s stock worth $450,000 after purchasing an additional 325 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in Enterprise Products Partners by 26.2% in the 4th quarter. Tocqueville Asset Management L.P. now owns 22,959 shares of the oil and gas producer’s stock worth $720,000 after purchasing an additional 4,772 shares during the last quarter. Edgemoor Investment Advisors Inc. increased its holdings in shares of Enterprise Products Partners by 0.7% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 309,426 shares of the oil and gas producer’s stock valued at $9,704,000 after acquiring an additional 2,181 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its stake in shares of Enterprise Products Partners by 0.4% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 130,752 shares of the oil and gas producer’s stock valued at $4,100,000 after acquiring an additional 580 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Enterprise Products Partners by 63.2% in the 4th quarter. Signaturefd LLC now owns 8,717 shares of the oil and gas producer’s stock valued at $273,000 after acquiring an additional 3,375 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Barclays raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday. 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. Finally, Morgan Stanley raised their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $35.90.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $33.88 on Tuesday. 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 market capitalization of $73.38 billion, a PE ratio of 12.60, a PEG ratio of 1.37 and a beta of 1.08. The business’s 50 day moving average is $33.27 and its 200-day moving average is $31.44. 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 announced 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. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm earned $0.72 EPS. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.32%. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

About Enterprise Products Partners

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.