Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Cypress Capital Management LLC WY

Cypress Capital Management LLC WY lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,875 shares of the oil and gas producer’s stock after selling 1,570 shares during the period. Cypress Capital Management LLC WY’s holdings in Enterprise Products Partners were worth $366,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EPD. Alps Advisors Inc. raised its position in shares of Enterprise Products Partners by 20.2% during the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares during the last quarter. Blackstone Inc. raised its position in shares of Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after purchasing an additional 2,472,847 shares during the last quarter. American Century Companies Inc. raised its position in shares of Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after purchasing an additional 2,155,640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Enterprise Products Partners by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after purchasing an additional 1,325,390 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Enterprise Products Partners by 2,436.1% during the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock worth $308,640,000 after purchasing an additional 1,125,117 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial increased their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Mizuho reiterated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners Trading Down 0.1 %

Shares of NYSE:EPD traded down $0.02 during mid-day trading on Monday, reaching $28.53. 3,693,410 shares of the company were exchanged, compared to its average volume of 4,953,271. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99. The firm has a market cap of $61.86 billion, a price-to-earnings ratio of 11.27 and a beta of 1.02. The firm’s 50-day simple moving average is $28.58 and its 200 day simple moving average is $27.33.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating 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 company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter last year, the company posted $0.65 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.22%. Enterprise Products Partners’s dividend payout ratio is presently 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.