Corient Private Wealth LLC Lowers Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Corient Private Wealth LLC trimmed its stake in Enterprise Products Partners by 1.0% in the fourth quarter, selling 28,452 shares and ending with 2.71 million shares valued at about $86.9 million.
• Institutional ownership remains active, with several hedge funds and asset managers adding to positions, while 26.07% of the stock is held by institutional investors overall.
• Analyst sentiment is mixed but mostly neutral: the stock carries a consensus "Hold" rating, with an average price target of $39.94, while the company recently reported EPS below estimates but revenue above expectations and pays a 6.0% dividend yield.

Corient Private Wealth LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,711,645 shares of the oil and gas producer's stock after selling 28,452 shares during the period. Corient Private Wealth LLC owned 0.13% of Enterprise Products Partners worth $86,935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC grew its holdings in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock worth $1,023,000 after purchasing an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC grew its position in Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock worth $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC grew its stake in shares of Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock worth $847,000 after purchasing an additional 1,578 shares during the period. Finally, Glenview Trust co increased its holdings in shares of Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock valued at $1,043,000 after purchasing an additional 25,555 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wolfe Research upgraded Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday. Truist Financial lifted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Finally, Scotiabank reiterated a "sector perform" rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of "Hold" and an average price target of $39.94.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $36.60 on Friday. The stock's 50-day moving average is $37.87 and its two-hundred day moving average is $35.81. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a market cap of $79.12 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners's revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.48%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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