Jennison Associates LLC Decreases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Jennison Associates LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 67.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 640,702 shares of the oil and gas producer’s stock after selling 1,349,462 shares during the period. Jennison Associates LLC’s holdings in Enterprise Products Partners were worth $20,092,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EPD. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. grew its stake in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners during the 3rd quarter valued at about $36,000. Finally, Bangor Savings Bank boosted its holdings in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.19 on Thursday. The stock has a market cap of $71.94 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a 52-week low of $26.12 and a 52-week high of $34.63. The business has a 50-day simple moving average of $32.55 and a 200-day simple moving average of $30.59. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.45%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 80.15%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EPD shares. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.44.

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.