Grassi Investment Management Sells 1,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Grassi Investment Management cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,200 shares of the oil and gas producer’s stock after selling 1,000 shares during the quarter. Grassi Investment Management’s holdings in Enterprise Products Partners were worth $1,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Parallel Advisors LLC lifted its holdings in Enterprise Products Partners by 8.1% during the 2nd quarter. Parallel Advisors LLC now owns 45,635 shares of the oil and gas producer’s stock valued at $1,323,000 after purchasing an additional 3,409 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at $439,000. Oppenheimer Asset Management Inc. lifted its holdings in Enterprise Products Partners by 1.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 63,938 shares of the oil and gas producer’s stock valued at $1,853,000 after purchasing an additional 611 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in Enterprise Products Partners by 10.3% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 53,846 shares of the oil and gas producer’s stock valued at $1,560,000 after purchasing an additional 5,014 shares during the last quarter. Finally, Collaborative Wealth Managment Inc. lifted its holdings in Enterprise Products Partners by 7.3% during the 2nd quarter. Collaborative Wealth Managment Inc. now owns 17,841 shares of the oil and gas producer’s stock valued at $517,000 after purchasing an additional 1,209 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

EPD stock traded up $0.41 during midday trading on Monday, reaching $32.58. The company had a trading volume of 3,539,397 shares, compared to its average volume of 3,565,377. The company has a market capitalization of $70.62 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The stock has a 50 day moving average price of $31.72 and a 200-day moving average price of $30.09. Enterprise Products Partners L.P. has a 1-year low of $26.12 and a 1-year high of $34.63. 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 (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue was up 14.8% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s payout ratio is 80.15%.

Analysts Set New Price Targets

EPD has been the subject of several research reports. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.60.

About Enterprise Products Partners

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.