Gamco Investors INC. ET AL decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 5.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,300 shares of the oil and gas producer’s stock after selling 7,040 shares during the period. Gamco Investors INC. ET AL’s holdings in Enterprise Products Partners were worth $3,512,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in EPD. Moneta Group Investment Advisors LLC grew its stake in shares of Enterprise Products Partners by 104,195.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after buying an additional 132,237,142 shares during the last quarter. Cowa LLC raised its position in Enterprise Products Partners by 9,906.0% during the 1st quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after purchasing an additional 7,675,795 shares during the last quarter. BROOKFIELD Corp ON lifted its holdings in Enterprise Products Partners by 803.7% in the 2nd quarter. BROOKFIELD Corp ON now owns 4,497,730 shares of the oil and gas producer’s stock worth $118,515,000 after buying an additional 4,000,004 shares during the period. Morgan Stanley grew its position in shares of Enterprise Products Partners by 17.6% in the 4th quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock worth $500,370,000 after buying an additional 3,102,695 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Enterprise Products Partners by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after buying an additional 1,325,390 shares during the period. Hedge funds and other institutional investors own 26.54% of the company’s stock.
Enterprise Products Partners Price Performance
Shares of NYSE:EPD opened at $26.25 on Friday. Enterprise Products Partners L.P. has a 1-year low of $24.66 and a 1-year high of $27.95. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.65. The business has a fifty day moving average price of $26.60 and a 200-day moving average price of $26.72. The company has a market capitalization of $57.01 billion, a PE ratio of 10.42 and a beta of 1.02.
Enterprise Products Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a dividend yield of 7.85%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.
Analysts Set New Price Targets
EPD has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on Enterprise Products Partners from $33.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Wells Fargo & Company upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday. Raymond James decreased their target price on Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating for the company in a report on Wednesday, November 1st. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $31.92.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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