Wealthspire Advisors LLC Trims Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Wealthspire Advisors LLC cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 54.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,336 shares of the oil and gas producer’s stock after selling 43,093 shares during the period. Wealthspire Advisors LLC’s holdings in Enterprise Products Partners were worth $1,108,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EPD. Verity & Verity LLC boosted its position in shares of Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after buying an additional 26,032 shares during the period. Spinnaker Trust bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth approximately $280,000. Paragon Advisors LLC bought a new position in Enterprise Products Partners in the 3rd quarter valued at $2,628,000. FMR LLC increased its stake in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its stake in shares of Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 0.9 %

Shares of NYSE EPD opened at $33.65 on Tuesday. The business has a fifty day moving average price of $32.67 and a 200 day moving average price of $30.99. Enterprise Products Partners L.P. has a 1-year low of $27.26 and a 1-year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market capitalization of $72.93 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 10.49% and a return on equity of 20.48%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared 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 an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.36%. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EPD. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. 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. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four investment 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

About Enterprise Products Partners

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.