BROOKFIELD Corp ON Cuts Stake in Enterprise Products Partners L.P. $EPD

BROOKFIELD Corp ON lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,071,160 shares of the oil and gas producer’s stock after selling 34,963 shares during the period. Enterprise Products Partners comprises about 0.1% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 28th biggest position. BROOKFIELD Corp ON’s holdings in Enterprise Products Partners were worth $78,373,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Everest Financial Group LLC boosted its position in Enterprise Products Partners by 3.6% during the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after buying an additional 271 shares during the period. Walker Asset Management LLC grew its stake in shares of Enterprise Products Partners by 1.5% during the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock valued at $756,000 after buying an additional 296 shares during the last quarter. Hunter Associates Investment Management LLC increased its holdings in shares of Enterprise Products Partners by 3.8% in the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after buying an additional 300 shares during the period. ORG Wealth Partners LLC lifted its stake in shares of Enterprise Products Partners by 0.5% in the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after acquiring an additional 317 shares during the last quarter. Finally, Mission Wealth Management LP lifted its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after acquiring an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.1%

NYSE EPD opened at $38.71 on Monday. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The stock has a market capitalization of $83.68 billion, a PE ratio of 14.34, a PEG ratio of 1.41 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. The business’s 50-day moving average is $37.67 and its 200 day moving average is $36.77.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.93 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s payout ratio is presently 81.48%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EPD. Scotiabank restated a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Jefferies Financial Group raised their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings lowered shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.93.

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.