Wealth Alliance Has $456,000 Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Wealth Alliance trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 30.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,550 shares of the oil and gas producer’s stock after selling 6,379 shares during the quarter. Wealth Alliance’s holdings in Enterprise Products Partners were worth $456,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Verity & Verity LLC grew its holdings in Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after purchasing an additional 26,032 shares during the period. Spinnaker Trust acquired a new stake in Enterprise Products Partners in the fourth quarter worth $280,000. Paragon Advisors LLC acquired a new stake in Enterprise Products Partners in the third quarter worth $2,628,000. FMR LLC grew its holdings in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its stake in shares of Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after buying an additional 51,809 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPD has been the topic of a number of recent research reports. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective on the stock. Truist Financial raised 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. Citigroup raised their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Wells Fargo & Company lowered 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Stock Down 0.5 %

EPD opened at $33.41 on Friday. 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 company’s 50-day moving average is $32.63 and its 200 day moving average is $30.93. Enterprise Products Partners L.P. has a fifty-two week low of $27.26 and a fifty-two week high of $34.63. The firm has a market capitalization of $72.41 billion, a P/E ratio of 12.42, a PEG ratio of 1.38 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.41%. Enterprise Products Partners’s 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.