Mattern Wealth Management LLC Trims Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Mattern Wealth Management LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.6% in the 4th quarter, HoldingsChannel reports. The firm owned 6,659 shares of the oil and gas producer’s stock after selling 2,666 shares during the quarter. Mattern Wealth Management LLC’s holdings in Enterprise Products Partners were worth $209,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EPD. Trust Co. of Vermont lifted its holdings in Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 300 shares in the last quarter. Evanson Asset Management LLC grew its stake in Enterprise Products Partners by 0.4% in the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after acquiring an additional 306 shares during the period. Sandbox Financial Partners LLC raised its holdings in Enterprise Products Partners by 3.2% in the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after acquiring an additional 309 shares during the last quarter. Armstrong Advisory Group Inc. boosted its holdings in shares of Enterprise Products Partners by 4.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 8,161 shares of the oil and gas producer’s stock worth $256,000 after purchasing an additional 329 shares during the last quarter. Finally, Curi RMB Capital LLC grew its position in shares of Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after purchasing an additional 339 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD stock opened at $33.46 on Tuesday. The company has a market capitalization of $72.52 billion, a PE ratio of 12.53, a P/E/G ratio of 1.60 and a beta of 1.09. 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’s 50 day moving average is $32.38 and its two-hundred day moving average is $30.40. Enterprise Products Partners L.P. has a 52-week low of $26.12 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the business earned $0.60 earnings per share. Enterprise Products Partners’s revenue was up 14.8% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.40%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Wall Street Analysts Forecast Growth

Several research firms have commented on EPD. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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. Scotiabank began coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lowered 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 report on Wednesday, December 18th. Four investment 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 company. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

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.