Cascade Investment Advisors Inc. Sells 825 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cascade Investment Advisors Inc. lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 3.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 24,610 shares of the oil and gas producer’s stock after selling 825 shares during the period. Cascade Investment Advisors Inc.’s holdings in Enterprise Products Partners were worth $540,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wealthspire Advisors LLC raised its stake in shares of Enterprise Products Partners by 118.6% during the third quarter. Wealthspire Advisors LLC now owns 50,555 shares of the oil and gas producer’s stock valued at $1,094,000 after acquiring an additional 27,425 shares during the last quarter. Cetera Advisors LLC raised its stake in shares of Enterprise Products Partners by 30.9% during the third quarter. Cetera Advisors LLC now owns 367,394 shares of the oil and gas producer’s stock valued at $7,950,000 after acquiring an additional 86,796 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Enterprise Products Partners by 0.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,195,317 shares of the oil and gas producer’s stock valued at $47,625,000 after acquiring an additional 7,073 shares during the last quarter. HighTower Trust Services LTA raised its stake in shares of Enterprise Products Partners by 1.7% during the fourth quarter. HighTower Trust Services LTA now owns 545,483 shares of the oil and gas producer’s stock valued at $11,979,000 after acquiring an additional 9,250 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Enterprise Products Partners by 56.7% during the fourth quarter. International Assets Investment Management LLC now owns 70,898 shares of the oil and gas producer’s stock valued at $1,557,000 after acquiring an additional 25,663 shares during the last quarter. 27.29% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Enterprise Products Partners from $27.00 to $30.00 in a research report on Tuesday, May 3rd. Mizuho increased their price objective on shares of Enterprise Products Partners from $30.00 to $32.00 in a research report on Tuesday, May 3rd. TD Securities increased their price objective on shares of Enterprise Products Partners from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 3rd. Raymond James increased their price objective on shares of Enterprise Products Partners from $26.00 to $30.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 18th. Finally, Morgan Stanley increased their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $28.38.

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction dated Friday, February 18th. The stock was purchased at an average cost of $23.76 per share, for a total transaction of $356,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 37.50% of the stock is owned by company insiders.

NYSE:EPD traded up $0.30 during trading hours on Friday, reaching $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 quick ratio of 0.91, a current ratio of 0.84 and a debt-to-equity ratio of 1.01. The firm has a market cap of $56.76 billion, a price-to-earnings ratio of 12.54 and a beta of 1.15. The business’s 50-day simple moving average is $25.83 and its two-hundred day simple moving average is $23.92. Enterprise Products Partners L.P. has a twelve month low of $20.42 and a twelve month high of $27.65.

Enterprise Products Partners (NYSE:EPDGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The oil and gas producer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $13.01 billion during 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% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.34 earnings per share for the current year.

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

About Enterprise Products Partners (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.

Featured Stories

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPDGet Rating).

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

Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.