StoneX Group Inc. Has $2.89 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

StoneX Group Inc. trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 91,998 shares of the oil and gas producer’s stock after selling 8,832 shares during the period. StoneX Group Inc.’s holdings in Enterprise Products Partners were worth $2,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Kayne Anderson Capital Advisors LP raised its holdings in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after buying an additional 1,947,017 shares during the last quarter. Barclays PLC raised its stake in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. Merewether Investment Management LP acquired a new position in shares of Enterprise Products Partners during the third quarter worth $30,746,000. Strategic Financial Concepts LLC grew its stake in shares of Enterprise Products Partners by 3,884.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock worth $21,414,000 after purchasing an additional 665,716 shares during the last quarter. Finally, Fisher Funds Management LTD bought a new position in Enterprise Products Partners during the 4th quarter worth $13,599,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Scotiabank boosted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Morgan Stanley upped their price objective on shares of 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. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. 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’s stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $34.14 on Tuesday. 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 firm has a 50-day moving average of $33.47 and a 200-day moving average of $31.78. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a market cap of $73.93 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.37 and a beta of 1.08.

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, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.27%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

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.