Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by TBH Global Asset Management LLC

TBH Global Asset Management LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 25.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,438 shares of the oil and gas producer’s stock after selling 6,500 shares during the quarter. TBH Global Asset Management LLC’s holdings in Enterprise Products Partners were worth $512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EPD. Rational Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth $43,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $48,000. Community Bank N.A. increased its stake in 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 purchasing an additional 750 shares in the last quarter. American National Bank acquired a new position in Enterprise Products Partners during the fourth quarter worth $49,000. Finally, Bear Mountain Capital Inc. purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $53,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on EPD shares. Barclays raised their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. JPMorgan Chase & Co. lowered their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Truist Financial upped their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.69.

Enterprise Products Partners Stock Performance

Shares of EPD remained flat at $28.21 during mid-day trading on Friday. 3,719,763 shares of the company’s stock were exchanged, compared to its average volume of 4,503,887. Enterprise Products Partners L.P. has a 52 week low of $25.19 and a 52 week high of $29.99. The company’s fifty day simple moving average is $28.82 and its two-hundred day simple moving average is $27.52. The firm has a market capitalization of $61.26 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 80.78%.

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.