Grassi Investment Management Sells 1,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Grassi Investment Management decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 38,200 shares of the oil and gas producer’s stock after selling 1,000 shares during the quarter. Grassi Investment Management’s holdings in Enterprise Products Partners were worth $1,198,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. DiNuzzo Private Wealth Inc. grew its holdings in Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. grew its holdings in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the 3rd quarter worth about $36,000. Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in Enterprise Products Partners during the 3rd quarter worth about $49,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 1.3 %

Shares of NYSE:EPD traded up $0.41 during mid-day trading on Monday, reaching $32.58. The stock had a trading volume of 3,539,397 shares, compared to its average volume of 3,565,377. The firm has a market cap of $70.62 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The firm has a 50 day simple moving average of $31.72 and a two-hundred day simple moving average of $30.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.57%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EPD. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Friday. They set a “sector perform” rating and a $33.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.60.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.