Hollow Brook Wealth Management LLC Reduces Position in Enterprise Products Partners L.P. $EPD

Hollow Brook Wealth Management LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 12.8% during the fourth quarter, HoldingsChannel reports. The firm owned 159,726 shares of the oil and gas producer’s stock after selling 23,458 shares during the quarter. Enterprise Products Partners accounts for 1.3% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 21st biggest position. Hollow Brook Wealth Management LLC’s holdings in Enterprise Products Partners were worth $5,121,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Miller Howard Investments Inc. NY grew its position in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after buying an additional 31,733 shares during the last quarter. Royal Palms Capital LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at $1,830,000. PNC Financial Services Group Inc. grew its position in shares of Enterprise Products Partners by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock valued at $39,153,000 after buying an additional 36,339 shares during the last quarter. Oxbow Advisors LLC grew its position in shares of Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after buying an additional 39,052 shares during the last quarter. Finally, Texas Yale Capital Corp. grew its position in shares of Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after buying an additional 88,475 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on EPD. JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Barclays increased their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Citigroup reaffirmed a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Morgan Stanley reaffirmed an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Finally, Truist Financial increased their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.67.

Enterprise Products Partners Trading Down 1.9%

Shares of Enterprise Products Partners stock opened at $36.54 on Tuesday. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. 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 market capitalization of $78.98 billion, a P/E ratio of 13.53, a PEG ratio of 1.33 and a beta of 0.49. The company’s fifty day moving average is $37.98 and its two-hundred day moving average is $35.72.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

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

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague bought 2,665 shares of the stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.60% of the stock is currently owned by insiders.

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.