Carlton Hofferkamp & Jenks Wealth Management LLC Lowers Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Carlton Hofferkamp & Jenks Wealth Management LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 42.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,512 shares of the oil and gas producer’s stock after selling 8,500 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Enterprise Products Partners were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. FMR LLC grew 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 acquiring an additional 1,225,988 shares during the last quarter. Brookfield Corp ON grew its position in Enterprise Products Partners by 6.2% during the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after acquiring an additional 278,892 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after acquiring an additional 200,625 shares during the last quarter. Stifel Financial Corp grew its position in Enterprise Products Partners by 0.3% during the third quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock valued at $101,032,000 after acquiring an additional 9,257 shares during the last quarter. Finally, Miller Howard Investments Inc. NY grew its position in Enterprise Products Partners by 5.0% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock valued at $100,646,000 after acquiring an additional 153,083 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.65 on Tuesday. The stock has a market cap of $72.94 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The firm’s fifty day simple moving average is $32.91 and its 200 day simple moving average is $31.16. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.36%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EPD. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Truist Financial increased their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Wells Fargo & Company cut shares of 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. Finally, Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners 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.