Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Sfmg LLC

Sfmg LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 19,205 shares of the oil and gas producer’s stock after selling 690 shares during the period. Sfmg LLC’s holdings in Enterprise Products Partners were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EPD. Fairfield Bush & CO. purchased a new position in Enterprise Products Partners during the second quarter worth about $26,000. Pacific Center for Financial Services purchased a new position in Enterprise Products Partners during the first quarter worth about $27,000. Financial Freedom LLC purchased a new position in Enterprise Products Partners during the fourth quarter worth about $38,000. Rational Advisors LLC purchased a new position in Enterprise Products Partners during the third quarter worth about $43,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in Enterprise Products Partners during the third quarter worth about $48,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of analyst reports. Scotiabank lifted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Truist Financial lifted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $28.40 on Thursday. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99. The company’s 50 day simple moving average is $28.27 and its 200-day simple moving average is $27.24. The company has a market capitalization of $61.57 billion, a price-to-earnings ratio of 11.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same period in the prior year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.25%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 81.75%.

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.