Samalin Investment Counsel LLC Cuts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Samalin Investment Counsel LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 15.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,219 shares of the oil and gas producer’s stock after selling 10,965 shares during the quarter. Enterprise Products Partners accounts for approximately 0.8% of Samalin Investment Counsel LLC’s holdings, making the stock its 27th largest holding. Samalin Investment Counsel LLC’s holdings in Enterprise Products Partners were worth $1,951,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Trust Co. of Vermont boosted its holdings in Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 300 shares in the last quarter. Griffin Asset Management Inc. boosted its holdings in Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after acquiring an additional 305 shares in the last quarter. Evanson Asset Management LLC boosted its holdings in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after acquiring an additional 306 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Enterprise Products Partners by 14.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after acquiring an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC boosted its holdings in Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after acquiring an additional 309 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of several recent analyst reports. Morgan Stanley raised their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Scotiabank lifted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Barclays lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Stock Down 1.2 %

Shares of EPD opened at $33.69 on Friday. The stock has a 50 day moving average price of $33.41 and a 200 day moving average price of $31.56. The stock has a market capitalization of $72.95 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.37 and a beta of 1.08. 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 one year low of $27.37 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. 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.