Wealth Alliance Sells 6,379 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Wealth Alliance lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 30.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,550 shares of the oil and gas producer’s stock after selling 6,379 shares during the period. Wealth Alliance’s holdings in Enterprise Products Partners were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its stake in Enterprise Products Partners by 84.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 44,690 shares of the oil and gas producer’s stock valued at $1,301,000 after purchasing an additional 20,475 shares during the last quarter. Eastern Bank bought a new position in Enterprise Products Partners in the 3rd quarter valued at approximately $63,000. Private Advisor Group LLC lifted its stake in Enterprise Products Partners by 3.8% in the 3rd quarter. Private Advisor Group LLC now owns 377,263 shares of the oil and gas producer’s stock valued at $10,982,000 after purchasing an additional 13,890 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. Finally, Grimes & Company Inc. lifted its stake in Enterprise Products Partners by 17.2% in the 3rd quarter. Grimes & Company Inc. now owns 13,100 shares of the oil and gas producer’s stock valued at $381,000 after purchasing an additional 1,922 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.5 %

EPD opened at $33.41 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.26 and a twelve month high of $34.63. 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 company has a fifty day moving average of $32.63 and a 200-day moving average of $30.93. The stock has a market cap of $72.41 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company posted $0.72 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was 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 dividend yield of 6.41%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EPD. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial increased their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, 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 for the company. in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

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.