Evanson Asset Management LLC Sells 1,495 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Evanson Asset Management LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,937 shares of the oil and gas producer’s stock after selling 1,495 shares during the period. Evanson Asset Management LLC’s holdings in Enterprise Products Partners were worth $1,790,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. FLC Capital Advisors increased its position in Enterprise Products Partners by 2.5% in the fourth quarter. FLC Capital Advisors now owns 105,593 shares of the oil and gas producer’s stock worth $2,782,000 after purchasing an additional 2,535 shares during the last quarter. Pettinga Financial Advisors LLC increased its position in Enterprise Products Partners by 2.3% in the fourth quarter. Pettinga Financial Advisors LLC now owns 22,009 shares of the oil and gas producer’s stock worth $580,000 after purchasing an additional 500 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in Enterprise Products Partners by 9.7% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,767,179 shares of the oil and gas producer’s stock worth $46,565,000 after purchasing an additional 156,650 shares during the last quarter. IFG Advisory LLC boosted its stake in Enterprise Products Partners by 13.7% during the fourth quarter. IFG Advisory LLC now owns 58,391 shares of the oil and gas producer’s stock worth $1,539,000 after buying an additional 7,016 shares during the period. Finally, Cresta Advisors Ltd. boosted its stake in Enterprise Products Partners by 2.3% during the fourth quarter. Cresta Advisors Ltd. now owns 27,250 shares of the oil and gas producer’s stock worth $718,000 after buying an additional 609 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Tuesday, February 13th. Wells Fargo & Company raised their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Truist Financial raised their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. 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. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $32.55.

Enterprise Products Partners Trading Up 0.4 %

Shares of EPD opened at $29.18 on Friday. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.26. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average is $27.56 and its two-hundred day moving average is $27.03. The stock has a market cap of $63.27 billion, a PE ratio of 11.58 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners L.P. will post 2.64 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.06%. The ex-dividend date of this dividend was Tuesday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s payout ratio is currently 81.75%.

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.