Pinnacle Holdings LLC Cuts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Pinnacle Holdings LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,666 shares of the oil and gas producer’s stock after selling 3,531 shares during the period. Enterprise Products Partners comprises 1.0% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 26th biggest holding. Pinnacle Holdings LLC’s holdings in Enterprise Products Partners were worth $2,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its holdings in Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after buying an additional 300 shares during 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 valued at $1,203,000 after purchasing an additional 305 shares in the last quarter. Evanson Asset Management LLC increased its stake 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 valued at $2,304,000 after purchasing an additional 306 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after purchasing an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC lifted its position in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after buying an additional 309 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EPD. StockNews.com cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Morgan Stanley increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Barclays increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Trading Down 3.0 %

EPD opened at $28.91 on Wednesday. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. 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 stock has a market capitalization of $62.61 billion, a PE ratio of 10.75, a P/E/G ratio of 1.37 and a beta of 0.78. The firm’s fifty day moving average price is $33.15 and its 200 day moving average price is $31.86.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 EPS. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 7.40%. Enterprise Products Partners’s payout ratio is 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.