Corient Private Wealth LLC Has $35.88 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Corient Private Wealth LLC reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,361,491 shares of the oil and gas producer’s stock after selling 110,497 shares during the period. Corient Private Wealth LLC owned about 0.06% of Enterprise Products Partners worth $35,875,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. D.A. Davidson & CO. raised its holdings in shares of Enterprise Products Partners by 1.6% in the fourth quarter. D.A. Davidson & CO. now owns 438,893 shares of the oil and gas producer’s stock valued at $11,565,000 after purchasing an additional 6,781 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in Enterprise Products Partners by 13.0% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,911 shares of the oil and gas producer’s stock worth $392,000 after buying an additional 1,710 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Enterprise Products Partners by 8.9% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 59,702 shares of the oil and gas producer’s stock worth $1,573,000 after buying an additional 4,874 shares during the last quarter. Verity Asset Management Inc. boosted its stake in shares of Enterprise Products Partners by 6.4% during the 4th quarter. Verity Asset Management Inc. now owns 69,205 shares of the oil and gas producer’s stock worth $1,824,000 after buying an additional 4,144 shares during the last quarter. Finally, Level Four Advisory Services LLC grew its holdings in shares of Enterprise Products Partners by 6.6% in the 4th quarter. Level Four Advisory Services LLC now owns 51,205 shares of the oil and gas producer’s stock valued at $1,349,000 after acquiring an additional 3,160 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $28.43 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The stock has a 50 day simple moving average of $28.83 and a 200 day simple moving average of $27.50. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The stock has a market cap of $61.74 billion, a P/E ratio of 11.15, a PEG ratio of 1.34 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The company’s revenue was up 18.6% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.515 per share. The ex-dividend date was Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.25%. Enterprise Products Partners’s payout ratio is presently 80.78%.

Analysts Set New Price Targets

Several research analysts recently commented on EPD shares. Stifel Nicolaus increased their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. cut their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Scotiabank boosted 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 report on Thursday, April 4th. Barclays increased their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective 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, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.69.

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.