Transform Wealth LLC Decreases Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Transform Wealth LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,353 shares of the oil and gas producer’s stock after selling 500 shares during the period. Transform Wealth LLC’s holdings in Enterprise Products Partners were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Verity & Verity LLC increased its holdings in shares of Enterprise Products Partners by 30.8% in 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 purchasing an additional 26,032 shares during the last quarter. Paragon Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $2,628,000. FMR LLC raised its holdings in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp boosted its position in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after acquiring an additional 51,809 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD opened at $33.60 on Tuesday. The company has a market cap of $72.82 billion, a P/E ratio of 12.58, a PEG ratio of 1.58 and a beta of 1.09. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week 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. The firm’s 50 day moving average price is $32.13 and its 200 day moving average price is $30.27.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal 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 paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. The ex-dividend date is Friday, January 31st. 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 Analyst Weigh In

EPD has been the topic of several recent analyst reports. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Finally, Truist Financial boosted their price objective 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. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

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.