Enterprise Products Partners L.P. $EPD Stock Holdings Trimmed by Hurley Capital LLC

Hurley Capital LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 264,232 shares of the oil and gas producer’s stock after selling 21,705 shares during the quarter. Enterprise Products Partners makes up about 4.7% of Hurley Capital LLC’s portfolio, making the stock its 7th biggest holding. Hurley Capital LLC’s holdings in Enterprise Products Partners were worth $8,471,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. PMV Capital Advisers LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $31,000. Texas Capital Bancshares Inc TX purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $32,000. Abich Financial Wealth Management LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $32,000. Finally, Daytona Street Capital LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on EPD shares. Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Truist Financial raised their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. TD Cowen reissued a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings lowered shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, May 21st. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $39.67.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $36.54 on Tuesday. The firm has a market cap of $78.98 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.33 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The firm has a fifty day moving average of $37.98 and a two-hundred day moving average of $35.72.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Insiders Place Their Bets

In related news, CEO Aj Teague acquired 2,665 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 32.60% of the stock is currently owned by corporate insiders.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.