Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 30.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,889 shares of the oil and gas producer’s stock after selling 5,153 shares during the quarter. Marcum Wealth LLC’s holdings in Enterprise Products Partners were worth $373,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of EPD. Thoroughbred Financial Services LLC acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $439,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Enterprise Products Partners by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 63,938 shares of the oil and gas producer’s stock valued at $1,853,000 after acquiring an additional 611 shares during the period. Citizens Financial Group Inc. RI bought a new stake in shares of Enterprise Products Partners during the second quarter valued at about $424,000. Moors & Cabot Inc. raised its stake in shares of Enterprise Products Partners by 2.0% during the second quarter. Moors & Cabot Inc. now owns 390,379 shares of the oil and gas producer’s stock valued at $11,313,000 after purchasing an additional 7,723 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. raised its stake in shares of Enterprise Products Partners by 6.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 169,918 shares of the oil and gas producer’s stock valued at $4,924,000 after purchasing an additional 10,265 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of recent analyst reports. Wells Fargo & Company cut shares of 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 lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Trading Up 2.7 %

Shares of EPD opened at $33.43 on Wednesday. The business’s 50-day moving average price is $31.87 and its 200 day moving average price is $30.15. The stock has a market capitalization of $72.46 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.66 and a beta of 1.09. Enterprise Products Partners L.P. has a 1-year low of $26.12 and a 1-year high of $34.63. 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 (NYSE:EPD) last issued its quarterly 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). The company 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 company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.40%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 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.