Stokes Family Office LLC Lowers Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Stokes Family Office LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,740 shares of the oil and gas producer’s stock after selling 1,000 shares during the quarter. Stokes Family Office LLC’s holdings in Enterprise Products Partners were worth $415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rational Advisors LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $43,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $48,000. Community Bank N.A. boosted its holdings in shares of Enterprise Products Partners by 68.3% in the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 750 shares in the last quarter. Bear Mountain Capital Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $53,000. Finally, Headinvest LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $62,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock traded up $0.05 during trading on Friday, reaching $28.10. The company had a trading volume of 3,599,060 shares, compared to its average volume of 5,182,867. The firm’s 50-day simple moving average is $28.64 and its 200 day simple moving average is $27.35. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The firm has a market capitalization of $60.93 billion, a PE ratio of 11.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.33%. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

Wall Street Analysts Forecast Growth

EPD has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Wells Fargo & Company raised their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Mizuho reissued a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Finally, Truist Financial raised their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $32.75.

Enterprise Products Partners Company Profile

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.