Quent Capital LLC Lowers Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Quent Capital LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,742 shares of the oil and gas producer’s stock after selling 792 shares during the period. Quent Capital LLC’s holdings in Enterprise Products Partners were worth $400,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC raised its stake in shares of Enterprise Products Partners by 8.4% during the third quarter. CWM LLC now owns 72,044 shares of the oil and gas producer’s stock valued at $2,097,000 after acquiring an additional 5,590 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Enterprise Products Partners by 438.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,864 shares of the oil and gas producer’s stock worth $83,000 after purchasing an additional 2,332 shares during the period. Empirical Asset Management LLC raised its position in Enterprise Products Partners by 2.8% during the 3rd quarter. Empirical Asset Management LLC now owns 16,491 shares of the oil and gas producer’s stock valued at $480,000 after purchasing an additional 450 shares in the last quarter. Keystone Wealth Services LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $419,000. Finally, Magnus Financial Group LLC grew its position in shares of Enterprise Products Partners by 5.9% during the 3rd quarter. Magnus Financial Group LLC now owns 42,779 shares of the oil and gas producer’s stock worth $1,245,000 after buying an additional 2,390 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.3 %

Enterprise Products Partners stock opened at $33.24 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market cap of $72.04 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The stock has a 50-day moving average of $32.48 and a two-hundred day moving average of $30.68. Enterprise Products Partners L.P. has a one year low of $26.31 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.44%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

Analyst Ratings Changes

A number of analysts recently weighed in on EPD shares. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Citigroup increased their target price on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $34.70.

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.