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

Avidian Wealth Enterprises LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,739 shares of the oil and gas producer’s stock after selling 974 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Enterprise Products Partners were worth $1,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its stake 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 buying an additional 300 shares in the last quarter. Griffin Asset Management Inc. lifted its holdings in shares of Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after acquiring an additional 305 shares during the period. Evanson Asset Management LLC boosted its stake in shares of 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 valued at $2,304,000 after purchasing an additional 306 shares in the last quarter. Sandbox Financial Partners LLC boosted its stake in shares of 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 purchasing an additional 309 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 32.5% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 325 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the subject of several analyst reports. 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 report on Friday, January 3rd. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Finally, Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Trading Up 0.3 %

Shares of EPD opened at $33.24 on Wednesday. The stock’s fifty day simple moving average is $32.48 and its 200-day simple moving average is $30.68. The firm has a market capitalization of $72.04 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a 12-month low of $26.31 and a 12-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.

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 net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.44%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.