Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Wealth Alliance

Wealth Alliance cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,238 shares of the oil and gas producer’s stock after selling 389 shares during the quarter. Wealth Alliance’s holdings in Enterprise Products Partners were worth $797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. Fairfield Bush & CO. acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $26,000. Pacific Center for Financial Services acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $27,000. Financial Freedom LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $38,000. Rational Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at about $43,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at about $48,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.5 %

Shares of EPD stock opened at $28.36 on Wednesday. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99. The stock has a market cap of $61.49 billion, a PE ratio of 11.25 and a beta of 1.02. The business’s fifty day moving average is $28.22 and its 200-day moving average is $27.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 2.62 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.26%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EPD. Truist Financial increased their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Barclays increased their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Finally, Wells Fargo & Company raised their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $32.58.

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.