Adell Harriman & Carpenter Inc. Decreases Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Adell Harriman & Carpenter Inc. reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 200,943 shares of the oil and gas producer’s stock after selling 1,409 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Enterprise Products Partners were worth $6,302,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton raised its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. raised its stake in Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. raised 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 valued at $35,000 after buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners during the 3rd quarter valued at $36,000. Finally, Bangor Savings Bank raised its stake in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of research reports. Citigroup boosted their target price on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Scotiabank started coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Trading Up 0.9 %

Shares of EPD stock opened at $33.52 on Friday. Enterprise Products Partners L.P. has a 52-week low of $26.64 and a 52-week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market capitalization of $72.65 billion, a PE ratio of 12.46, a PEG ratio of 1.54 and a beta of 1.09. The stock has a fifty day simple moving average of $32.49 and a two-hundred day simple moving average of $30.74.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.72 EPS. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts predict that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

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.