Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 35.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,712,893 shares of the oil and gas producer’s stock after selling 9,046,811 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Enterprise Products Partners were worth $367,016,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Ahrens Investment Partners LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at about $29,000. Activest Wealth Management raised its position in shares of Enterprise Products Partners by 179.4% during the 4th quarter. Activest Wealth Management now owns 1,394 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 895 shares in the last quarter. PYA Waltman Capital LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $31,000. Godsey & Gibb Associates bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $36,000. Finally, Sandy Cove Advisors LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $38,000. 27.29% of the stock is owned by institutional investors.

Several research analysts have recently weighed in on EPD shares. Morgan Stanley lifted their target price on shares of Enterprise Products Partners from $27.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 26th. StockNews.com began coverage on shares of Enterprise Products Partners in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Mizuho boosted their price objective on shares of Enterprise Products Partners from $30.00 to $32.00 in a research note on Tuesday, May 3rd. Citigroup cut shares of Enterprise Products Partners from a “buy” rating to a “neutral” rating in a research note on Monday, January 31st. Finally, Truist Financial upped their target price on shares of Enterprise Products Partners from $27.00 to $30.00 in a research note on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $28.38.

In other news, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction on Friday, February 18th. The stock was purchased at an average cost of $23.76 per share, with a total value of $356,400.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 37.50% of the stock is currently owned by insiders.

Shares of EPD stock traded up $0.30 during trading on Friday, hitting $26.08. The company had a trading volume of 10,322,625 shares, compared to its average volume of 6,777,797. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.91 and a current ratio of 0.84. The firm has a market capitalization of $56.76 billion, a P/E ratio of 12.54 and a beta of 1.15. The stock’s 50-day moving average price is $25.83 and its 200 day moving average price is $23.92. Enterprise Products Partners L.P. has a one year low of $20.42 and a one year high of $27.65.

Enterprise Products Partners (NYSE:EPDGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The oil and gas producer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $13.01 billion for the quarter, compared to analysts’ expectations of $10.47 billion. Enterprise Products Partners had a net margin of 10.28% and a return on equity of 18.08%. The business’s quarterly revenue was up 42.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.34 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Friday, April 29th were paid a dividend of $0.465 per share. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $1.86 annualized dividend and a dividend yield of 7.13%. Enterprise Products Partners’s payout ratio is currently 89.42%.

Enterprise Products Partners Company Profile (Get Rating)

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

See Also

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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