Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 21.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,776 shares of the oil and gas producer’s stock after selling 20,462 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Enterprise Products Partners were worth $2,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Tidemark LLC boosted its holdings in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at about $30,000. National Bank of Canada FI grew its holdings in shares of Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 360 shares during the period. Finally, Colonial Trust Co SC increased its position in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 314 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $32.11 on Thursday. The firm has a 50-day moving average of $30.89 and a two-hundred day moving average of $32.24. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market cap of $69.64 billion, a P/E ratio of 11.94, a PEG ratio of 1.37 and a beta of 0.65. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is currently 80.15%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Citigroup reduced their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Morgan Stanley upped their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Scotiabank raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, June 5th. Finally, Argus upgraded Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.67.

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.