Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.9% in the fourth quarter, HoldingsChannel reports. The firm owned 93,000 shares of the oil and gas producer’s stock after selling 8,000 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Enterprise Products Partners were worth $2,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton increased its position in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its holdings in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. grew its holdings in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners in the 3rd quarter valued at about $36,000. Finally, Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on EPD shares. Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Citigroup lifted their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Four equities research 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 company. According to MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $33.22 on Friday. The stock’s 50 day moving average price is $32.48 and its 200 day moving average price is $30.72. The firm has a market capitalization of $72.00 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a one year low of $26.49 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. As a group, sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.44%. Enterprise Products Partners’s payout ratio is 79.55%.

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.