Recurrent Investment Advisors LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,675,483 shares of the oil and gas producer’s stock after selling 25,167 shares during the quarter. Enterprise Products Partners comprises about 3.8% of Recurrent Investment Advisors LLC’s holdings, making the stock its 12th biggest holding. Recurrent Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $63,400,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners in the third quarter valued at $31,000. Daytona Street Capital LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at $42,000. Groesbeck Investment Management Corp NJ purchased a new position in shares of Enterprise Products Partners during the fourth quarter worth about $45,000. Kestra Investment Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter worth about $48,000. Finally, State of Wyoming acquired a new stake in shares of Enterprise Products Partners during the second quarter worth about $54,000. 26.07% of the stock is owned by hedge funds and other institutional investors.
Enterprise Products Partners Price Performance
Shares of EPD opened at $38.66 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The firm has a 50-day simple moving average of $37.62 and a 200-day simple moving average of $36.87. The company has a market capitalization of $83.58 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.49.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.
Analyst Ratings Changes
A number of brokerages recently issued reports on EPD. Truist Financial upped their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. TD Cowen restated a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Finally, Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Hold” and a consensus price target of $39.93.
View Our Latest Stock Analysis on EPD
Enterprise Products Partners Profile
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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