Carnegie Investment Counsel Has $467,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Carnegie Investment Counsel lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 17.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,114 shares of the oil and gas producer’s stock after selling 3,414 shares during the period. Carnegie Investment Counsel’s holdings in Enterprise Products Partners were worth $467,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Enterprise Products Partners by 31.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock worth $68,000 after purchasing an additional 614 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $85,000. SVB Wealth LLC raised its position in shares of Enterprise Products Partners by 10.5% in the 4th quarter. SVB Wealth LLC now owns 16,498 shares of the oil and gas producer’s stock valued at $435,000 after acquiring an additional 1,563 shares during the period. Western Wealth Management LLC grew its holdings in Enterprise Products Partners by 3.5% during the fourth quarter. Western Wealth Management LLC now owns 18,673 shares of the oil and gas producer’s stock valued at $492,000 after purchasing an additional 631 shares during the period. Finally, Institute for Wealth Management LLC. bought a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $201,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EPD shares. JPMorgan Chase & Co. cut their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Truist Financial upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley lowered their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Performance

NYSE:EPD traded up $0.06 during mid-day trading on Wednesday, hitting $29.19. 987,422 shares of the stock were exchanged, compared to its average volume of 4,615,157. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The firm’s 50-day simple moving average is $29.04 and its 200 day simple moving average is $28.56. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The stock has a market capitalization of $63.39 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same period in the prior year, the business posted $0.57 EPS. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.19%. Enterprise Products Partners’s payout ratio is currently 82.35%.

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.