ORBA Wealth Advisors L.L.C. Has $373,000 Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

ORBA Wealth Advisors L.L.C. lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 19.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,907 shares of the oil and gas producer’s stock after selling 2,857 shares during the quarter. ORBA Wealth Advisors L.L.C.’s holdings in Enterprise Products Partners were worth $373,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton increased its position in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares during the period. Assetmark Inc. grew its holdings in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in shares of Enterprise Products Partners in the 3rd quarter worth about $36,000. Bangor Savings Bank boosted its position in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth approximately $40,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 1.2 %

Shares of Enterprise Products Partners stock opened at $33.24 on Wednesday. The company has a market capitalization of $72.04 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The stock has a fifty day simple moving average of $32.71 and a 200 day simple moving average of $31.03. Enterprise Products Partners L.P. has a 12-month low of $27.26 and a 12-month 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 announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.44%. 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 79.55%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EPD. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Truist Financial increased their target price 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. Scotiabank began 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 target for the company. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Company 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.