MML Investors Services LLC Sells 40,921 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

MML Investors Services LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,679 shares of the oil and gas producer's stock after selling 40,921 shares during the period. MML Investors Services LLC's holdings in Enterprise Products Partners were worth $2,718,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Verity & Verity LLC lifted its holdings in shares of Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock valued at $3,470,000 after buying an additional 26,032 shares during the period. Spinnaker Trust bought a new stake in Enterprise Products Partners in the fourth quarter worth $280,000. FourThought Financial Partners LLC grew its stake in shares of Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock valued at $4,407,000 after buying an additional 21,970 shares during the last quarter. Peapack Gladstone Financial Corp lifted its holdings in Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock valued at $3,954,000 after buying an additional 51,809 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Enterprise Products Partners by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock worth $9,726,000 after buying an additional 21,192 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Trading Up 0.4 %

EPD traded up $0.13 during mid-day trading on Thursday, hitting $30.03. The stock had a trading volume of 1,504,539 shares, compared to its average volume of 4,363,828. The stock's fifty day simple moving average is $32.19 and its 200-day simple moving average is $31.95. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market capitalization of $65.03 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company's revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 7.13%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's payout ratio is currently 79.55%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EPD. JPMorgan Chase & Co. raised their price target 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. Morgan Stanley upped their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. StockNews.com downgraded shares of Enterprise Products Partners from a "buy" rating to a "hold" rating in a research note on Wednesday. Truist Financial increased their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, Scotiabank upped their price target on shares of 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. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.89.

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.