Enterprise Products Partners L.P. $EPD Shares Sold by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 59.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,662 shares of the oil and gas producer’s stock after selling 102,232 shares during the period. Crescent Grove Advisors LLC’s holdings in Enterprise Products Partners were worth $2,233,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Cibc World Market Inc. increased its position in Enterprise Products Partners by 15.7% in the fourth quarter. Cibc World Market Inc. now owns 23,773 shares of the oil and gas producer’s stock worth $762,000 after buying an additional 3,231 shares during the period. Lido Advisors LLC increased its position in Enterprise Products Partners by 0.7% in the fourth quarter. Lido Advisors LLC now owns 254,694 shares of the oil and gas producer’s stock worth $8,022,000 after buying an additional 1,792 shares during the period. Elgethun Capital Management increased its position in Enterprise Products Partners by 6.2% in the fourth quarter. Elgethun Capital Management now owns 184,331 shares of the oil and gas producer’s stock worth $5,910,000 after buying an additional 10,765 shares during the period. WCG Wealth Advisors LLC grew its stake in shares of Enterprise Products Partners by 27.0% in the fourth quarter. WCG Wealth Advisors LLC now owns 130,450 shares of the oil and gas producer’s stock worth $4,182,000 after purchasing an additional 27,743 shares in the last quarter. Finally, Johnson Financial Group LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth $662,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.9%

Shares of EPD stock opened at $38.04 on Thursday. The stock has a 50-day simple moving average of $38.14 and a 200 day simple moving average of $35.42. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The stock has a market capitalization of $82.22 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.34 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the prior year, the business earned $0.64 EPS. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Insiders Place Their Bets

In other news, CEO Aj Teague bought 2,665 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This represents a 3.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 32.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EPD. Stifel Nicolaus increased their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group reissued a “neutral” rating and issued a $39.00 price target on shares of Enterprise Products Partners in a research note on Thursday, May 14th. Truist Financial increased their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada increased their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, TD Cowen reissued a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.67.

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About Enterprise Products Partners

(Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

See Also

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

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