Principle Wealth Partners LLC Sells 2,500 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Principle Wealth Partners LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 20.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,496 shares of the oil and gas producer’s stock after selling 2,500 shares during the period. Principle Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Alps Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 20.2% during the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares in the last quarter. Blackstone Inc. grew its holdings in shares of Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after purchasing an additional 2,472,847 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after purchasing an additional 2,155,640 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Enterprise Products Partners by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after purchasing an additional 1,325,390 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Enterprise Products Partners by 2,436.1% during the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock worth $308,640,000 after purchasing an additional 1,125,117 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $29.06 on Monday. The business’s 50-day moving average price is $28.58 and its 200-day moving average price is $27.33. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99. The firm has a market capitalization of $63.01 billion, a price-to-earnings ratio of 11.53 and a beta of 1.02. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EPD. Barclays increased their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Truist Financial raised their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $32.58.

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.