Perigon Wealth Management LLC Sells 2,790 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Perigon Wealth Management LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,955 shares of the oil and gas producer’s stock after selling 2,790 shares during the quarter. Perigon Wealth Management LLC’s holdings in Enterprise Products Partners were worth $3,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of EPD. Rosenberg Matthew Hamilton grew its holdings in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its position in Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. grew its holdings in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners in the third quarter valued at about $36,000. Finally, Bangor Savings Bank boosted its holdings in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $33.65 on Wednesday. The firm’s 50 day moving average price is $32.42 and its 200-day moving average price is $30.43. 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 has a market capitalization of $72.95 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.36%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of research analyst reports. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four equities 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 company. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target 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.