Pettinga Financial Advisors LLC Lowers Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Pettinga Financial Advisors LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 44.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,100 shares of the oil and gas producer's stock after selling 8,200 shares during the period. Pettinga Financial Advisors LLC's holdings in Enterprise Products Partners were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock valued at $1,410,891,000 after acquiring an additional 1,967,188 shares during the last quarter. Truist Financial Corp raised its stake in shares of Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock worth $68,927,000 after purchasing an additional 1,506,055 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth approximately $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after purchasing an additional 851,188 shares during the period. Finally, KDK Private Wealth Management LLC purchased a new position in Enterprise Products Partners in the 4th quarter valued at $22,333,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

NYSE:EPD traded down $0.24 during trading hours on Thursday, reaching $31.27. 3,459,314 shares of the company traded hands, compared to its average volume of 4,487,112. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The firm's 50-day moving average is $31.48 and its 200-day moving average is $32.10. The stock has a market cap of $67.81 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.33 and a beta of 0.64. 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 released its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. Enterprise Products Partners's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.545 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.97%. Enterprise Products Partners's payout ratio is 80.15%.

Analyst Ratings Changes

Several analysts have recently commented on EPD shares. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Finally, Scotiabank upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of "Moderate Buy" and an average price target of $36.36.

About Enterprise Products Partners

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.