Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Hollow Brook Wealth Management LLC

Hollow Brook Wealth Management LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,121 shares of the oil and gas producer’s stock after selling 48,363 shares during the quarter. Enterprise Products Partners comprises approximately 2.1% of Hollow Brook Wealth Management LLC’s portfolio, making the stock its 14th largest holding. Hollow Brook Wealth Management LLC’s holdings in Enterprise Products Partners were worth $5,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alps Advisors Inc. increased its stake in Enterprise Products Partners by 20.2% in the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares during the period. Blackstone Inc. increased its stake in Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares during the period. American Century Companies Inc. increased its stake in Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after purchasing an additional 2,155,640 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Enterprise Products Partners by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after purchasing an additional 1,325,390 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Enterprise Products Partners by 2,436.1% in the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after purchasing an additional 1,125,117 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPD. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Scotiabank boosted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Truist Financial boosted their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Barclays boosted their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Price Performance

EPD stock traded down $0.52 during trading on Tuesday, reaching $28.07. 8,876,852 shares of the company were exchanged, compared to its average volume of 5,008,442. The company has a market cap of $60.86 billion, a P/E ratio of 11.14 and a beta of 1.02. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The stock’s 50 day moving average price is $28.62 and its 200 day moving average price is $27.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.34%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Enterprise Products Partners 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.