Cynosure Group LLC Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Cynosure Group LLC lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,820 shares of the oil and gas producer’s stock after selling 478 shares during the quarter. Cynosure Group LLC’s holdings in Enterprise Products Partners were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kayne Anderson Capital Advisors LP increased its stake in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. Brookfield Corp ON boosted its holdings in shares of Enterprise Products Partners by 6.2% in the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after buying an additional 278,892 shares in the last quarter. Stifel Financial Corp grew its position in shares of Enterprise Products Partners by 0.3% in the 3rd quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock valued at $101,032,000 after buying an additional 9,257 shares during the last quarter. LPL Financial LLC raised its stake in Enterprise Products Partners by 10.7% during the 4th quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock worth $104,310,000 after acquiring an additional 321,145 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its position in Enterprise Products Partners by 5.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock valued at $100,646,000 after acquiring an additional 153,083 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of research analyst reports. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. 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. Barclays lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Scotiabank increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Price Performance

EPD stock opened at $34.06 on Thursday. The firm has a 50 day moving average of $33.47 and a 200-day moving average of $31.83. The company has a market cap of $73.76 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $35.62.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors 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 6.28%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Enterprise Products Partners 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.