SeaBridge Investment Advisors LLC Has $1.09 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

SeaBridge Investment Advisors LLC reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,656 shares of the oil and gas producer’s stock after selling 6,443 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $1,087,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont lifted its stake in shares of Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 300 shares during the period. Griffin Asset Management Inc. grew its holdings in shares of Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after acquiring an additional 305 shares in the last quarter. Evanson Asset Management LLC raised its position in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after acquiring an additional 306 shares during the period. Sandbox Financial Partners LLC lifted its position in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 309 shares during the last quarter. Finally, Armstrong Advisory Group Inc. grew its stake in shares of Enterprise Products Partners by 4.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 8,161 shares of the oil and gas producer’s stock worth $256,000 after acquiring an additional 329 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the topic of several research reports. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Stock Performance

EPD opened at $32.70 on Friday. Enterprise Products Partners L.P. has a 12-month low of $26.12 and a 12-month high of $34.63. The company has a market cap of $70.87 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.59 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $32.53 and its 200 day moving average is $30.53.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced 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. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.55%. Enterprise Products Partners’s payout ratio is 78.65%.

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.