Wedbush Securities Inc. Sells 1,424 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Wedbush Securities Inc. lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 80,540 shares of the oil and gas producer’s stock after selling 1,424 shares during the period. Wedbush Securities Inc.’s holdings in Enterprise Products Partners were worth $2,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EPD. Rosenberg Matthew Hamilton increased its holdings in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the period. Tidemark LLC increased its stake in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $30,000. Finally, National Bank of Canada FI grew its holdings in shares of Enterprise Products Partners by 55.4% during the fourth 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 in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EPD. JPMorgan Chase & Co. lifted their target price 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. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Truist Financial increased their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Finally, Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $30.83 on Friday. The stock has a market capitalization of $66.76 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. 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 business’s 50 day simple moving average is $33.41 and its two-hundred day simple moving average is $31.86.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.