GraniteShares Advisors LLC Trims Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

GraniteShares Advisors LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 56,086 shares of the oil and gas producer’s stock after selling 2,974 shares during the period. Enterprise Products Partners makes up about 1.3% of GraniteShares Advisors LLC’s portfolio, making the stock its 18th biggest position. GraniteShares Advisors LLC’s holdings in Enterprise Products Partners were worth $1,478,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its stake in shares of Enterprise Products Partners by 8.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 371 shares during the period. Ellsworth Advisors LLC boosted its position in Enterprise Products Partners by 1.9% during the third quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 380 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Enterprise Products Partners by 3.3% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock valued at $328,000 after purchasing an additional 386 shares in the last quarter. Register Financial Advisors LLC boosted its position in Enterprise Products Partners by 2.3% during the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after purchasing an additional 397 shares in the last quarter. Finally, Your Advocates Ltd. LLP boosted its position in Enterprise Products Partners by 1.9% during the third quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock valued at $615,000 after purchasing an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.15 during trading on Tuesday, reaching $28.36. The stock had a trading volume of 6,358,368 shares, compared to its average volume of 4,965,033. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The business has a fifty day moving average price of $28.18 and a 200-day moving average price of $27.23. The stock has a market cap of $61.49 billion, a PE ratio of 11.25 and a beta of 1.02. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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. The company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.62 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.26%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent research reports. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Truist Financial raised their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Stifel Nicolaus raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Barclays raised their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, Scotiabank raised their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Company 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.