Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Finer Wealth Management Inc.

Finer Wealth Management Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 13.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,906 shares of the oil and gas producer’s stock after selling 1,732 shares during the quarter. Finer Wealth Management Inc.’s holdings in Enterprise Products Partners were worth $342,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kayne Anderson Capital Advisors LP lifted its position in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after buying an additional 1,947,017 shares during the last quarter. Barclays PLC raised its position in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the period. KDK Private Wealth Management LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth $22,333,000. Strategic Financial Concepts LLC boosted its position in shares of Enterprise Products Partners by 3,884.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock worth $21,414,000 after buying an additional 665,716 shares during the period. Finally, Fisher Funds Management LTD acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $13,599,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 2.1 %

NYSE EPD opened at $30.95 on Wednesday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The company has a market capitalization of $67.03 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. 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 firm’s fifty day moving average price is $32.75 and its 200 day moving average price is $31.86.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.91%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Scotiabank upped their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Finally, Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.89.

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.