Sigma Planning Corp Trims Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sigma Planning Corp lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 50.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,724 shares of the oil and gas producer’s stock after selling 20,303 shares during the quarter. Sigma Planning Corp’s holdings in Enterprise Products Partners were worth $520,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $43,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $48,000. Bear Mountain Capital Inc. purchased a new stake in shares of Enterprise Products Partners during the 4th quarter valued at approximately $53,000. Headinvest LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $62,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Enterprise Products Partners by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock valued at $68,000 after buying an additional 614 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $28.92 on Friday. The company has a fifty day simple moving average of $28.55 and a two-hundred day simple moving average of $27.32. The company has a market cap of $62.71 billion, a price-to-earnings ratio of 11.48 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a 52 week low of $25.19 and a 52 week high of $29.99.

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

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid 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 7.12%. Enterprise Products Partners’s payout ratio is currently 81.75%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays lifted their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Truist Financial boosted their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Wells Fargo & Company boosted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price 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.