Hurley Capital LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 264,232 shares of the oil and gas producer’s stock after selling 21,705 shares during the period. Enterprise Products Partners accounts for approximately 4.7% of Hurley Capital LLC’s portfolio, making the stock its 7th largest holding. Hurley Capital LLC’s holdings in Enterprise Products Partners were worth $8,471,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Arete Wealth Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 1.5% in the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after purchasing an additional 317 shares in the last quarter. ORG Wealth Partners LLC lifted its holdings in shares of Enterprise Products Partners by 0.5% in the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after purchasing an additional 317 shares in the last quarter. Walker Asset Management LLC lifted its holdings in shares of Enterprise Products Partners by 1.7% in the fourth quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock valued at $631,000 after purchasing an additional 326 shares in the last quarter. Mission Wealth Management LP lifted its holdings in shares of Enterprise Products Partners by 1.0% in the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after purchasing an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in shares of Enterprise Products Partners by 5.9% in the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.
Enterprise Products Partners Stock Performance
Shares of EPD opened at $36.54 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a market capitalization of $78.98 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.33 and a beta of 0.49. The company’s 50 day simple moving average is $37.98 and its 200 day simple moving average is $35.72. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17.
Enterprise Products Partners Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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 dividend on an annualized basis and a yield of 6.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.
Wall Street Analysts Forecast Growth
EPD has been the topic of several recent research reports. Royal Bank Of Canada upped their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Finally, Citigroup reissued a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.67.
Check Out Our Latest Report on EPD
Insiders Place Their Bets
In related news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction on Friday, March 20th. The shares were bought 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 in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 32.60% of the stock is currently owned by corporate insiders.
About Enterprise Products Partners
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.
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