Duff & Phelps Investment Management Co. Lowers Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Duff & Phelps Investment Management Co. lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,876,842 shares of the oil and gas producer’s stock after selling 233,000 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.09% of Enterprise Products Partners worth $58,858,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $49,000. FMR LLC raised its stake in Enterprise Products Partners by 9.3% during the 3rd 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. Townsquare Capital LLC boosted its holdings in shares of Enterprise Products Partners by 35.0% in the third quarter. Townsquare Capital LLC now owns 23,920 shares of the oil and gas producer’s stock worth $696,000 after buying an additional 6,203 shares during the last quarter. Cynosure Group LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth about $358,000. Finally, Glenmede Trust Co. NA lifted its position in shares of Enterprise Products Partners by 9.7% in the third quarter. Glenmede Trust Co. NA now owns 735,233 shares of the oil and gas producer’s stock valued at $21,403,000 after acquiring an additional 64,968 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EPD has been the topic of several analyst reports. Barclays boosted 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, March 14th. JPMorgan Chase & Co. upped their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. 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. Finally, Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.60.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $33.96 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $33.45 and a 200 day moving average price of $31.67. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The firm has a market capitalization of $73.54 billion, a PE ratio of 12.62, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.30%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

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.