Atlanta Consulting Group Advisors LLC Decreases Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Atlanta Consulting Group Advisors LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,081 shares of the oil and gas producer’s stock after selling 927 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Enterprise Products Partners were worth $692,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its stake in Enterprise Products Partners by 9.3% in 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 buying an additional 1,225,988 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after buying an additional 1,947,017 shares during the last quarter. Brookfield Corp ON raised its stake in Enterprise Products Partners by 6.2% in 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 buying an additional 278,892 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Enterprise Products Partners by 5.2% in 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 buying an additional 200,625 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in Enterprise Products Partners by 0.3% in 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 buying an additional 9,257 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 1.7 %

Shares of EPD stock opened at $33.54 on Monday. The stock has a 50 day moving average of $33.23 and a 200 day moving average of $31.41. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $72.63 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company earned $0.72 earnings per share. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. 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 6.38%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analyst Weigh In

EPD has been the subject of several research analyst reports. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Barclays raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Scotiabank raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

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.