Wellington Shields Capital Management LLC Trims Position in Enterprise Products Partners L.P. (NYSE:EPD)

Wellington Shields Capital Management LLC reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 40.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,700 shares of the oil and gas producer’s stock after selling 3,950 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Enterprise Products Partners were worth $179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Kayne Anderson Capital Advisors LP raised its holdings in shares of Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the period. Barclays PLC raised its holdings in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after buying an additional 1,326,010 shares during the period. FMR LLC lifted its position in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Merewether Investment Management LP purchased a new stake in Enterprise Products Partners during the third quarter worth approximately $30,746,000. Finally, Strategic Financial Concepts LLC increased its position in shares of Enterprise Products Partners by 3,884.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock worth $21,414,000 after acquiring an additional 665,716 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EPD shares. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Morgan Stanley upped their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Barclays boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Trading Up 1.7 %

NYSE EPD opened at $33.54 on Friday. The company has a market capitalization of $72.63 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The company’s fifty day moving average price is $33.23 and its two-hundred day moving average price is $31.38.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.38%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is 79.55%.

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.