Fisher Asset Management LLC Has $282,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Fisher Asset Management LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,702 shares of the oil and gas producer’s stock after selling 696 shares during the quarter. Fisher Asset Management LLC’s holdings in Enterprise Products Partners were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Hazlett Burt & Watson Inc. increased its stake in shares of Enterprise Products Partners by 8.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after acquiring an additional 371 shares during the last quarter. Ellsworth Advisors LLC increased its stake in shares of Enterprise Products Partners by 1.9% in the fourth quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock worth $558,000 after acquiring an additional 393 shares during the last quarter. Register Financial Advisors LLC increased its stake in shares of Enterprise Products Partners by 2.3% in the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock worth $456,000 after acquiring an additional 397 shares during the last quarter. Eaton Financial Holdings Company LLC increased its stake in shares of Enterprise Products Partners by 1.2% in the fourth quarter. Eaton Financial Holdings Company LLC now owns 34,738 shares of the oil and gas producer’s stock worth $915,000 after acquiring an additional 420 shares during the last quarter. Finally, Your Advocates Ltd. LLP increased its stake in shares of Enterprise Products Partners by 1.9% in the fourth quarter. Your Advocates Ltd. LLP now owns 22,906 shares of the oil and gas producer’s stock worth $604,000 after acquiring an additional 425 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 1.4 %

NYSE EPD opened at $28.98 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The firm has a 50-day simple moving average of $28.48 and a 200 day simple moving average of $27.82. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $29.99. The stock has a market cap of $62.92 billion, a PE ratio of 11.36, a PEG ratio of 1.33 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.73 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.11%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EPD. Scotiabank upped their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Morgan Stanley decreased their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Barclays upped their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $32.77.

About Enterprise Products Partners

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.