Choreo LLC Sells 634 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Choreo LLC decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 91,901 shares of the oil and gas producer’s stock after selling 634 shares during the period. Choreo LLC’s holdings in Enterprise Products Partners were worth $2,876,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Tectonic Advisors LLC raised its position in Enterprise Products Partners by 5.4% in the fourth quarter. Tectonic Advisors LLC now owns 570,393 shares of the oil and gas producer’s stock worth $17,888,000 after acquiring an additional 29,180 shares during the period. Lion Street Advisors LLC increased its stake in shares of Enterprise Products Partners by 17.4% in the fourth quarter. Lion Street Advisors LLC now owns 13,147 shares of the oil and gas producer’s stock worth $412,000 after purchasing an additional 1,946 shares in the last quarter. Groesbeck Investment Management Corp NJ purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth about $622,000. Stratos Wealth Partners LTD. increased its stake in shares of Enterprise Products Partners by 17.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 203,147 shares of the oil and gas producer’s stock worth $6,371,000 after purchasing an additional 30,528 shares in the last quarter. Finally, Sargent Investment Group LLC increased its stake in shares of Enterprise Products Partners by 2.1% in the fourth quarter. Sargent Investment Group LLC now owns 22,360 shares of the oil and gas producer’s stock worth $728,000 after purchasing an additional 455 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Truist Financial lifted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Price Performance

EPD stock opened at $32.84 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a one year low of $26.12 and a one year high of $34.63. The stock has a market cap of $71.17 billion, a PE ratio of 12.30, a P/E/G ratio of 1.54 and a beta of 1.09. The firm has a 50 day simple moving average of $32.54 and a two-hundred day simple moving average of $30.61.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, analysts predict that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.52%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 80.15%.

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.