Miller Wealth Advisors LLC Cuts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Miller Wealth Advisors LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,463 shares of the oil and gas producer’s stock after selling 817 shares during the period. Enterprise Products Partners comprises 0.1% of Miller Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. Miller Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $140,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC increased its stake in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Barclays PLC boosted its holdings in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after buying an additional 1,326,010 shares in the last quarter. FMR LLC grew its position in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Merewether Investment Management LP acquired a new stake in Enterprise Products Partners during the 3rd quarter worth $30,746,000. Finally, Strategic Financial Concepts LLC lifted its position in Enterprise Products Partners by 3,884.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after acquiring an additional 665,716 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EPD has been the topic of a number of research analyst reports. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial raised their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $33.09 on Thursday. The stock has a market capitalization of $71.71 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.37 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 12-month low of $27.26 and a 12-month high of $34.63. The firm’s 50-day moving average is $32.76 and its two-hundred day moving average is $31.04.

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 (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. The ex-dividend date of this dividend 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 6.47%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

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.