Fort Washington Investment Advisors Inc. OH Reduces Holdings in Enterprise Products Partners L.P. $EPD

Fort Washington Investment Advisors Inc. OH lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 19.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 134,287 shares of the oil and gas producer’s stock after selling 32,777 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Enterprise Products Partners were worth $5,081,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. PMV Capital Advisers LLC purchased a new stake in Enterprise Products Partners in the fourth quarter worth about $25,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Texas Capital Bancshares Inc TX purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Daytona Street Capital LLC bought a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $45,000. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on EPD. Citigroup restated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Truist Financial increased their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada upped their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $36.66 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $79.25 billion, a P/E ratio of 13.58, a PEG ratio of 1.30 and a beta of 0.49. The stock’s 50 day moving average is $37.79 and its 200 day moving average is $36.01. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (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 company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.

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.