Gofen & Glossberg LLC IL decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,609 shares of the oil and gas producer’s stock after selling 3,940 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Enterprise Products Partners were worth $2,229,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in EPD. Nalls Sherbakoff Group LLC purchased a new stake in Enterprise Products Partners in the 4th quarter worth approximately $25,000. Ffcm LLC increased its stake in shares of Enterprise Products Partners by 50.0% during the 4th quarter. Ffcm LLC now owns 1,245 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 415 shares during the last quarter. Murphy Pohlad Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth $31,000. Essex Savings Bank acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth $32,000. Finally, PRW Wealth Management LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth $32,000. Institutional investors own 36.78% of the company’s stock.
NYSE:EPD traded up $0.14 during midday trading on Friday, reaching $28.75. The stock had a trading volume of 1,999,293 shares, compared to its average volume of 4,243,405. Enterprise Products Partners L.P. has a 1-year low of $23.33 and a 1-year high of $30.05. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $62.13 billion, a PE ratio of 14.82, a PEG ratio of 4.86 and a beta of 0.96.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Monday, April 29th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.75 dividend on an annualized basis and a yield of 6.09%. Enterprise Products Partners’s dividend payout ratio is 90.21%.
Several brokerages have recently commented on EPD. Zacks Investment Research upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Thursday, April 11th. Bank of America set a $32.00 price target on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Evercore ISI began coverage on shares of Enterprise Products Partners in a research note on Tuesday, February 5th. They set an “outperform” rating on the stock. Finally, Goldman Sachs Group upgraded shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $32.00 in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $33.27.
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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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