Avidian Wealth Enterprises LLC Sells 974 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Avidian Wealth Enterprises LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 61,739 shares of the oil and gas producer’s stock after selling 974 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Enterprise Products Partners were worth $1,936,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EPD. Rosenberg Matthew Hamilton increased 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 purchasing an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its holdings 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 buying an additional 1,000 shares during the period. Assetmark Inc. increased 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 buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners during the 3rd quarter worth $36,000. Finally, Bangor Savings Bank raised its stake in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.3 %

Shares of EPD stock opened at $33.24 on Wednesday. The firm’s fifty day moving average price is $32.48 and its two-hundred day moving average price is $30.68. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 1 year low of $26.31 and a 1 year high of $34.63. The firm has a market capitalization of $72.04 billion, a P/E ratio of 12.36, a PEG ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.44%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EPD shares. Citigroup increased their price target on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial lifted their price target 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. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Company 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.