Sequent Asset Management LLC Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Sequent Asset Management LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,009 shares of the oil and gas producer’s stock after buying an additional 991 shares during the quarter. Sequent Asset Management LLC’s holdings in Enterprise Products Partners were worth $343,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rational Advisors LLC bought a new position in Enterprise Products Partners during the third quarter valued at $43,000. Financial Gravity Asset Management Inc. purchased a new position in Enterprise Products Partners during the third quarter worth $48,000. Community Bank N.A. raised its stake in shares of Enterprise Products Partners by 68.3% in 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 acquiring an additional 750 shares during the period. Bear Mountain Capital Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth about $53,000. Finally, Headinvest LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth about $62,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 1.8 %

Shares of Enterprise Products Partners stock traded down $0.52 during trading on Tuesday, reaching $28.07. The company’s stock had a trading volume of 8,876,852 shares, compared to its average volume of 5,008,442. The company has a 50-day simple moving average of $28.62 and a two-hundred day simple moving average of $27.34. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. 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 market cap of $60.86 billion, a price-to-earnings ratio of 11.14 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping 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 previous year, the firm earned $0.65 EPS. Enterprise Products Partners’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays raised their price objective 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. Truist Financial boosted their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Mizuho reiterated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Scotiabank lifted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.58.

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.