Blackstone Inc. Sells 1,680,834 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Blackstone Inc. trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,265,882 shares of the oil and gas producer's stock after selling 1,680,834 shares during the quarter. Enterprise Products Partners comprises about 2.2% of Blackstone Inc.'s investment portfolio, making the stock its 12th largest holding. Blackstone Inc. owned approximately 0.70% of Enterprise Products Partners worth $478,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Capital Inc. acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth $3,569,000. Cary Street Partners Financial LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $1,519,000. Chapman Financial Group LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at about $392,000. BIP Wealth LLC raised its position in shares of Enterprise Products Partners by 12.3% in the 4th quarter. BIP Wealth LLC now owns 23,691 shares of the oil and gas producer's stock valued at $743,000 after buying an additional 2,603 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Enterprise Products Partners by 3.9% during the 4th quarter. Ameriprise Financial Inc. now owns 345,061 shares of the oil and gas producer's stock worth $10,820,000 after acquiring an additional 13,111 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EPD. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Scotiabank boosted their target price on 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. increased their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $36.89.

Enterprise Products Partners Trading Up 1.1 %

Shares of EPD stock traded up $0.32 during mid-day trading on Wednesday, reaching $30.27. 4,401,715 shares of the stock traded hands, compared to its average volume of 4,379,196. The company has a market cap of $65.54 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock's fifty day simple moving average is $31.94 and its two-hundred day simple moving average is $32.00. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate 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 $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The firm's quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 7.07%. Enterprise Products Partners's payout ratio is 80.15%.

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.