Penn Davis Mcfarland Inc. Sells 7,275 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Penn Davis Mcfarland Inc. reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,191,359 shares of the oil and gas producer’s stock after selling 7,275 shares during the quarter. Enterprise Products Partners accounts for 4.1% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 7th largest position. Penn Davis Mcfarland Inc.’s holdings in Enterprise Products Partners were worth $37,361,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rosenberg Matthew Hamilton raised its holdings in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the period. DiNuzzo Private Wealth Inc. raised its stake in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. lifted its position in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing 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 third quarter valued at $36,000. Finally, Bangor Savings Bank increased its stake in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.2 %

NYSE EPD opened at $33.60 on Monday. The firm has a market capitalization of $72.82 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. Enterprise Products Partners L.P. has a one year low of $26.12 and a one year high of $34.63. The company has a 50-day simple moving average of $32.07 and a 200-day simple moving average of $30.23. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. 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 business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.37%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Wall Street Analyst Weigh In

EPD has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Truist Financial lifted 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 note on Friday, January 3rd. Wells Fargo & Company downgraded 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 research note on Wednesday, December 18th. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.