Brown Advisory Inc. Cuts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Brown Advisory Inc. lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,222 shares of the oil and gas producer’s stock after selling 3,474 shares during the quarter. Brown Advisory Inc.’s holdings in Enterprise Products Partners were worth $4,617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. grew its stake in Enterprise Products Partners by 20.2% during the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares in the last quarter. Blackstone Inc. grew its stake in Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after purchasing an additional 2,472,847 shares in the last quarter. American Century Companies Inc. grew its stake in Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after purchasing an additional 2,155,640 shares in the last quarter. Invesco Ltd. grew its stake in Enterprise Products Partners by 10.5% during the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after purchasing an additional 969,199 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Enterprise Products Partners by 2.6% during the 3rd quarter. Deutsche Bank AG now owns 4,884,123 shares of the oil and gas producer’s stock worth $133,678,000 after purchasing an additional 125,450 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on EPD shares. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Truist Financial upped their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Wells Fargo & Company upped their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $32.69.

Enterprise Products Partners Stock Down 0.9 %

Enterprise Products Partners stock opened at $28.43 on Thursday. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99. The stock has a 50 day moving average of $28.83 and a two-hundred day moving average of $27.50. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $61.74 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.34 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.25%. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

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.