Morningstar Investment Management LLC Has $521,000 Stock Position in Enterprise Products Partners L.P. $EPD

Morningstar Investment Management LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 71.8% during the first quarter, Holdings Channel.com reports. The firm owned 13,771 shares of the oil and gas producer’s stock after selling 35,145 shares during the period. Morningstar Investment Management LLC’s holdings in Enterprise Products Partners were worth $521,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners in the 3rd quarter valued at about $31,000. Daytona Street Capital LLC bought a new position in Enterprise Products Partners in the fourth quarter worth approximately $42,000. Groesbeck Investment Management Corp NJ acquired a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $45,000. Kestra Investment Management LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at approximately $48,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $55,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on EPD. Scotiabank reiterated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Jefferies Financial Group upped their price objective 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. Truist Financial raised their price objective 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Trading Down 0.1%

Shares of Enterprise Products Partners stock opened at $38.71 on Monday. The company has a market capitalization of $83.68 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49. The stock has a fifty day simple moving average of $37.67 and a 200 day simple moving average of $36.77. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued 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 the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.93 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

About Enterprise Products Partners

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.