Wealth Alliance Sells 389 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY lifted its holdings in Enterprise Products Partners by 7.1% during the third quarter. Miller Howard Investments Inc. NY now owns 3,189,590 shares of the oil and gas producer’s stock worth $87,299,000 after acquiring an additional 210,603 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Enterprise Products Partners by 8.7% in the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after purchasing an additional 3,075 shares in the last quarter. Cullen Investment Group LTD. bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $7,542,000. Finally, Sapient Capital LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $3,271,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EPD shares. Barclays boosted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Wells Fargo & Company boosted their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Truist Financial lifted their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Scotiabank lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Stock Down 0.5 %

Shares of NYSE:EPD opened at $28.36 on Wednesday. The company has a fifty day moving average of $28.22 and a 200-day moving average of $27.24. The company has a market capitalization of $61.49 billion, a PE ratio of 11.25 and a beta of 1.02. 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 L.P. has a 52-week low of $25.19 and a 52-week high of $29.99.

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

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. 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%.

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.