Wealthcare Advisory Partners LLC Lowers Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Wealthcare Advisory Partners LLC cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,238 shares of the oil and gas producer’s stock after selling 1,003 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Enterprise Products Partners were worth $3,049,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rosenberg Matthew Hamilton boosted its stake in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. boosted its position in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners in the 3rd quarter valued at $36,000. Finally, Bangor Savings Bank increased its position in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EPD has been the subject of several research reports. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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 research note on Wednesday, December 18th. Truist Financial raised their target price on 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, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Trading Down 0.2 %

Shares of Enterprise Products Partners stock opened at $33.60 on Friday. The company’s 50-day moving average price is $32.01 and its 200-day moving average price is $30.19. 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 L.P. has a 12-month low of $26.12 and a 12-month high of $34.63. The company has a market cap of $72.82 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during 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 business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.37%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 80.15%.

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.