Marco Investment Management LLC Sells 810 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Marco Investment Management LLC lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 519,655 shares of the oil and gas producer’s stock after selling 810 shares during the period. Enterprise Products Partners comprises about 1.4% of Marco Investment Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Marco Investment Management LLC’s holdings in Enterprise Products Partners were worth $13,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC bought a new position in Enterprise Products Partners during the third quarter valued at approximately $43,000. Financial Gravity Asset Management Inc. bought a new position in Enterprise Products Partners during the third quarter valued at approximately $48,000. Community Bank N.A. lifted its position in Enterprise Products Partners by 68.3% during the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 750 shares during the period. Bear Mountain Capital Inc. bought a new position in Enterprise Products Partners during the fourth quarter valued at approximately $53,000. Finally, Headinvest LLC bought a new position in Enterprise Products Partners during the third quarter valued at approximately $62,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD traded up $0.13 during trading on Friday, hitting $29.06. 7,621,520 shares of the company traded hands, compared to its average volume of 4,698,358. The company has a market cap of $63.01 billion, a PE ratio of 11.53 and a beta of 1.02. The stock’s 50-day simple moving average is $28.58 and its two-hundred day simple moving average is $27.33. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.09%. Enterprise Products Partners’s payout ratio is 81.75%.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research analyst reports. Scotiabank increased their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Truist Financial upped their target price 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. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Barclays upped their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $32.58.

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.