Baldwin Investment Management LLC Trims Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Baldwin Investment Management LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,533 shares of the oil and gas producer’s stock after selling 548 shares during the quarter. Enterprise Products Partners makes up approximately 0.7% of Baldwin Investment Management LLC’s investment portfolio, making the stock its 16th largest position. Baldwin Investment Management LLC’s holdings in Enterprise Products Partners were worth $5,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Silvercrest Asset Management Group LLC lifted its position in Enterprise Products Partners by 1.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 205,140 shares of the oil and gas producer’s stock valued at $5,986,000 after buying an additional 2,679 shares during the last quarter. Beacon Capital Management LLC raised its stake in shares of Enterprise Products Partners by 944.9% in the 1st quarter. Beacon Capital Management LLC now owns 2,654 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 2,400 shares during the period. Jaffetilchin Investment Partners LLC lifted its holdings in shares of Enterprise Products Partners by 8.8% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 16,749 shares of the oil and gas producer’s stock worth $489,000 after acquiring an additional 1,358 shares during the last quarter. Montchanin Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $3,597,000. Finally, Kozak & Associates Inc. increased its holdings in Enterprise Products Partners by 9.8% in the 1st quarter. Kozak & Associates Inc. now owns 4,633 shares of the oil and gas producer’s stock valued at $133,000 after purchasing an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $32.86 on Wednesday. The stock’s 50-day simple moving average is $29.84 and its 200-day simple moving average is $29.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market capitalization of $71.23 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $33.22.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

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.