Walleye Capital LLC Decreases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Walleye Capital LLC reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 31.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,886 shares of the oil and gas producer’s stock after selling 18,000 shares during the period. Walleye Capital LLC’s holdings in Enterprise Products Partners were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kayne Anderson Capital Advisors LP raised its position in shares of Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. Barclays PLC raised its holdings in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after buying an additional 1,326,010 shares during the last quarter. KDK Private Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth $22,333,000. Strategic Financial Concepts LLC grew its holdings in shares of Enterprise Products Partners by 3,884.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after buying an additional 665,716 shares during the last quarter. Finally, Fisher Funds Management LTD acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $13,599,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 2.0 %

Shares of NYSE:EPD opened at $31.05 on Friday. The business’s 50 day moving average price is $32.61 and its 200-day moving average price is $31.90. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The firm has a market capitalization of $67.25 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.89%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EPD. Scotiabank raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, Morgan Stanley lifted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

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.