River Road Asset Management LLC Has $10.61 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

River Road Asset Management LLC cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 402,757 shares of the oil and gas producer’s stock after selling 10,883 shares during the period. River Road Asset Management LLC’s holdings in Enterprise Products Partners were worth $10,613,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $26,000. Pacific Center for Financial Services acquired a new position in Enterprise Products Partners in the 1st quarter valued at about $27,000. Financial Freedom LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at about $38,000. Rational Advisors LLC acquired a new position in Enterprise Products Partners in the 3rd quarter valued at about $43,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in Enterprise Products Partners in the 3rd quarter valued at about $48,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $28.50 on Thursday. The company has a 50 day moving average of $28.27 and a 200-day moving average of $27.24. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The company has a market cap of $61.80 billion, a PE ratio of 11.27 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company 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. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EPD. Wells Fargo & Company upped their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Barclays boosted their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $32.58.

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.