Arbor Trust Wealth Advisors LLC Has $321,000 Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Arbor Trust Wealth Advisors LLC lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 12.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,230 shares of the oil and gas producer’s stock after selling 1,500 shares during the quarter. Arbor Trust Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rosenberg Matthew Hamilton lifted its stake in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the period. DiNuzzo Private Wealth Inc. increased its stake in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. raised its position in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners during the 3rd quarter worth approximately $36,000. Finally, Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EPD. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Price Performance

Shares of EPD opened at $33.60 on Friday. The company has a 50 day moving average of $32.07 and a 200-day moving average of $30.22. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $72.82 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.57 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the business posted $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.37%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

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.