Rockefeller Capital Management L.P. increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 2.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,040,773 shares of the oil and gas producer’s stock after acquiring an additional 48,832 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Enterprise Products Partners were worth $65,427,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of EPD. PMV Capital Advisers LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the third quarter worth about $31,000. Texas Capital Bancshares Inc TX acquired a new stake in Enterprise Products Partners in the third quarter worth about $32,000. Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth approximately $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth approximately $45,000. 26.07% of the stock is currently owned by institutional investors.
Enterprise Products Partners Stock Performance
Shares of EPD opened at $36.60 on Friday. 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 twelve month low of $30.01 and a twelve month high of $40.17. The firm’s 50 day moving average price is $37.87 and its two-hundred day moving average price is $35.81. The firm has a market cap of $79.12 billion, a P/E ratio of 13.56, a PEG ratio of 1.30 and a beta of 0.49.
Enterprise Products Partners Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on EPD shares. Truist Financial lifted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. TD Cowen reaffirmed a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 15th. Finally, Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $42.00 in a report on Wednesday, March 25th. Nine 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’s stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Hold” and a consensus target price of $39.94.
Get Our Latest Stock Report on Enterprise Products Partners
Enterprise Products Partners Company 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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