Gilman Hill Asset Management LLC Reduces Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Gilman Hill Asset Management LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 207,234 shares of the oil and gas producer’s stock after selling 14,312 shares during the quarter. Enterprise Products Partners makes up about 1.1% of Gilman Hill Asset Management LLC’s holdings, making the stock its 29th biggest holding. Gilman Hill Asset Management LLC’s holdings in Enterprise Products Partners were worth $6,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rosenberg Matthew Hamilton raised its stake in 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 worth $26,000 after buying an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its holdings in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. raised its position in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $36,000. Finally, Bangor Savings Bank grew its stake in 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 worth $40,000 after purchasing an additional 1,072 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

EPD stock opened at $33.60 on Monday. 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 1 year low of $26.12 and a 1 year high of $34.63. The company has a market cap of $72.82 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. The stock’s fifty day moving average price is $32.07 and its 200-day moving average price is $30.23.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. 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 previous year, the business posted $0.60 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts forecast 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. Shareholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.37%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 78.65%.

Wall Street Analyst Weigh In

Several equities analysts have commented on EPD shares. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Scotiabank started coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Four 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.