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

Miller Wealth Advisors LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 15.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,463 shares of the oil and gas producer’s stock after selling 817 shares during the quarter. Enterprise Products Partners makes up approximately 0.1% of Miller Wealth Advisors LLC’s portfolio, making the stock its 19th largest holding. Miller Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $140,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Cutter & CO Brokerage Inc. raised its position in shares of Enterprise Products Partners by 1.4% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 668,636 shares of the oil and gas producer’s stock valued at $20,968,000 after buying an additional 9,152 shares during the last quarter. FourThought Financial Partners LLC raised its holdings in Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after acquiring an additional 21,970 shares during the last quarter. IFP Advisors Inc lifted its stake in Enterprise Products Partners by 14.1% in the 4th quarter. IFP Advisors Inc now owns 105,003 shares of the oil and gas producer’s stock worth $3,293,000 after purchasing an additional 12,998 shares in the last quarter. J. W. Coons Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $210,000. Finally, Mainstay Capital Management LLC ADV acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $240,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPD has been the topic of a number of recent research reports. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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 stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price Performance

EPD opened at $33.09 on Thursday. The stock’s 50-day moving average price is $32.76 and its 200 day moving average price is $31.04. Enterprise Products Partners L.P. has a 12-month low of $27.26 and a 12-month high of $34.63. The firm has a market cap of $71.71 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.37 and a beta of 1.09. 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 (NYSE:EPD) last issued its quarterly earnings results 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 net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.47%. Enterprise Products Partners’s payout ratio is 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.