Jennison Associates LLC Sells 19,198 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Jennison Associates LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,963,548 shares of the oil and gas producer’s stock after selling 19,198 shares during the quarter. Jennison Associates LLC owned approximately 0.09% of Enterprise Products Partners worth $51,739,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Hazlett Burt & Watson Inc. boosted its stake in Enterprise Products Partners by 8.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after acquiring an additional 371 shares during the last quarter. Ellsworth Advisors LLC boosted its stake in Enterprise Products Partners by 1.9% during the 3rd quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock worth $573,000 after acquiring an additional 380 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Enterprise Products Partners by 3.3% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock worth $328,000 after acquiring an additional 386 shares during the last quarter. Register Financial Advisors LLC raised its holdings in Enterprise Products Partners by 2.3% during the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock worth $456,000 after buying an additional 397 shares during the period. Finally, Your Advocates Ltd. LLP raised its holdings in Enterprise Products Partners by 1.9% during the 3rd quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock worth $615,000 after buying an additional 412 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.3 %

EPD stock opened at $28.91 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The company has a fifty day moving average price of $28.46 and a two-hundred day moving average price of $27.29. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99. The stock has a market cap of $62.67 billion, a price-to-earnings ratio of 11.47 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.13%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Analyst Upgrades and Downgrades

EPD has been the topic of several research analyst reports. Barclays raised their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Wells Fargo & Company lifted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $32.58.

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.