Enterprise Products Partners L.P. $EPD Shares Sold by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management LLC cut its stake in Enterprise Products Partners by 51.1% in the fourth quarter, leaving it with 48,916 shares valued at about $1.57 million.
• Analysts are mixed on the stock, with recent target raises from firms including Truist, RBC, Scotiabank, and Citigroup; the overall consensus rating remains Hold with an average target price of $39.67.
• Enterprise Products Partners reported quarterly EPS of $0.68, missing estimates, while revenue came in above expectations at $14.39 billion. The company also paid a quarterly dividend of $0.55 per share, implying a 5.6% annualized yield.

Morningstar Investment Management LLC cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 51.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 48,916 shares of the oil and gas producer's stock after selling 51,071 shares during the quarter. Morningstar Investment Management LLC's holdings in Enterprise Products Partners were worth $1,568,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of EPD. Brighton Jones LLC increased its position in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after purchasing an additional 5,425 shares during the period. Schnieders Capital Management LLC. increased its position in shares of Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock valued at $1,827,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC increased its position in shares of 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 valued at $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC increased its position 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 valued at $847,000 after purchasing an additional 1,578 shares during the period. Finally, Glenview Trust co increased its position 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 during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EPD shares. Truist Financial lifted their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research report on Monday, May 4th. Royal Bank Of Canada lifted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, March 30th. Scotiabank reissued a "sector perform" rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Citigroup reissued a "buy" rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, UBS Group reissued a "buy" rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $39.67.

Enterprise Products Partners Stock Performance

EPD opened at $39.55 on Tuesday. The firm has a market cap of $85.49 billion, a PE ratio of 14.65, a P/E/G ratio of 1.47 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The business has a fifty day simple moving average of $38.11 and a 200-day simple moving average of $35.10. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17.

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 for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business's revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.95 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is 81.48%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.60% of the stock is currently owned by company insiders.

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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