Duff & Phelps Investment Management Co. Has $58.86 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Duff & Phelps Investment Management Co. trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,876,842 shares of the oil and gas producer’s stock after selling 233,000 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Enterprise Products Partners were worth $58,858,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Rosenberg Matthew Hamilton raised its stake in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares during the last quarter. Tidemark LLC raised its position in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $30,000. Finally, Bangor Savings Bank increased its stake in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.3 %

EPD stock opened at $33.96 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market capitalization of $73.54 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company’s 50-day simple moving average is $33.45 and its 200 day simple moving average is $31.67.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.30%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EPD shares. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley upped their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday. Finally, 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. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

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.