Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 25.4% during the fourth quarter, Holdings Channel reports. The firm owned 114,519 shares of the oil and gas producer’s stock after selling 38,972 shares during the period. Crescent Grove Advisors LLC’s holdings in Enterprise Products Partners were worth $3,018,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its stake in shares of Enterprise Products Partners by 104,195.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after acquiring an additional 132,237,142 shares during the period. Cowa LLC raised its stake in shares of Enterprise Products Partners by 9,906.0% in the 1st quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after acquiring an additional 7,675,795 shares during the period. Alps Advisors Inc. raised its stake in shares of Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares during the period. Morgan Stanley raised its stake in shares of Enterprise Products Partners by 17.6% in the 4th quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after acquiring an additional 3,102,695 shares during the period. Finally, Blackstone Inc. raised its stake in shares of Enterprise Products Partners by 12.0% in the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after acquiring an additional 2,472,847 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded down $0.53 during midday trading on Monday, hitting $28.52. The company’s stock had a trading volume of 6,934,855 shares, compared to its average volume of 4,945,680. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The firm’s fifty day moving average price is $28.14 and its 200-day moving average price is $27.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The firm has a market cap of $61.84 billion, a P/E ratio of 11.44 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same period in the previous year, the business posted $0.65 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.62 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.22%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EPD shares. Scotiabank lifted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Barclays lifted their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Finally, Truist Financial lifted their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $32.58.

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.