Stock Yards Bank & Trust Co. Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Stock Yards Bank & Trust Co. reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,483 shares of the oil and gas producer’s stock after selling 3,625 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Enterprise Products Partners were worth $1,725,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Alps Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 20.2% during the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares during the last quarter. Blackstone Inc. increased its holdings in shares of Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after buying an additional 2,472,847 shares during the period. American Century Companies Inc. boosted its holdings in Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after acquiring an additional 2,155,640 shares during the period. Invesco Ltd. grew its position in Enterprise Products Partners by 10.5% during the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after acquiring an additional 969,199 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Enterprise Products Partners by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after purchasing an additional 1,325,390 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $29.01 on Tuesday. The business’s fifty day moving average is $28.41 and its 200 day moving average is $27.28. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a market cap of $62.89 billion, a price-to-earnings ratio of 11.51 and a beta of 1.02. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99.

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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $12.43 billion. During the same period last year, the business earned $0.65 EPS. Enterprise Products Partners’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts expect that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.10%. Enterprise Products Partners’s payout ratio is currently 81.75%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EPD shares. Wells Fargo & Company raised their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Scotiabank boosted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Barclays boosted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Two investment 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners 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.