Sei Investments Co. Sells 40,188 Shares of Enterprise Products Partners L.P. $EPD

Sei Investments Co. lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 38.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,600 shares of the oil and gas producer’s stock after selling 40,188 shares during the period. Sei Investments Co.’s holdings in Enterprise Products Partners were worth $2,482,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners in the 3rd quarter valued at $31,000. Kestra Investment Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth $48,000. Tucker Asset Management LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth $55,000. First Pacific Financial boosted its holdings in Enterprise Products Partners by 1,652.6% during the first quarter. First Pacific Financial now owns 1,700 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 1,603 shares during the period. Finally, Portus Wealth Advisors LLC bought a new stake in Enterprise Products Partners during the first quarter valued at about $65,000. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the topic of a number of recent analyst reports. Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial upped their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings cut Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and an average target price of $39.93.

Enterprise Products Partners Stock Down 0.7%

Shares of EPD opened at $37.79 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a 50-day simple moving average of $37.54 and a 200-day simple moving average of $37.16. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The firm has a market capitalization of $81.70 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.36 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period last year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

About Enterprise Products Partners

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.