Spire Wealth Management Sells 871 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Spire Wealth Management lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,754 shares of the oil and gas producer’s stock after selling 871 shares during the quarter. Spire Wealth Management’s holdings in Enterprise Products Partners were worth $1,228,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EPD. Sheets Smith Wealth Management grew its stake in Enterprise Products Partners by 2.9% in the fourth quarter. Sheets Smith Wealth Management now owns 244,510 shares of the oil and gas producer’s stock valued at $6,443,000 after acquiring an additional 7,000 shares during the period. FourThought Financial Partners LLC increased its stake in Enterprise Products Partners by 5.1% during the 4th quarter. FourThought Financial Partners LLC now owns 92,792 shares of the oil and gas producer’s stock valued at $2,445,000 after purchasing an additional 4,532 shares in the last quarter. TCG Advisory Services LLC raised its holdings in Enterprise Products Partners by 1,175.4% during the fourth quarter. TCG Advisory Services LLC now owns 210,127 shares of the oil and gas producer’s stock worth $5,537,000 after buying an additional 193,651 shares during the last quarter. Sapient Capital LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at $3,271,000. Finally, Merit Financial Group LLC increased its position in shares of Enterprise Products Partners by 65.0% during the fourth quarter. Merit Financial Group LLC now owns 33,183 shares of the oil and gas producer’s stock worth $874,000 after acquiring an additional 13,076 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.0 %

Enterprise Products Partners stock opened at $28.34 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $61.45 billion, a P/E ratio of 11.12 and a beta of 1.02. The firm has a 50 day moving average price of $28.68 and a 200-day moving average price of $27.36. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.27%. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

Wall Street Analysts Forecast Growth

EPD has been the topic of several recent research reports. Scotiabank lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Truist Financial increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $32.75.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.