ICA Group Wealth Management LLC Sells 12,286 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

ICA Group Wealth Management LLC trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 81.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,759 shares of the oil and gas producer’s stock after selling 12,286 shares during the period. ICA Group Wealth Management LLC’s holdings in Enterprise Products Partners were worth $80,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in EPD. Cadence Bank increased its stake in Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after buying an additional 365 shares during the period. McAdam LLC increased its position in shares of Enterprise Products Partners by 1.3% during the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after acquiring an additional 372 shares during the period. Advisor OS LLC raised its stake in shares of Enterprise Products Partners by 1.3% in the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after acquiring an additional 379 shares in the last quarter. Ellsworth Advisors LLC boosted its holdings in Enterprise Products Partners by 1.8% in the second quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after purchasing an additional 383 shares during the period. Finally, Stokes Family Office LLC grew its stake in Enterprise Products Partners by 2.5% during the 2nd quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after purchasing an additional 399 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $29.62 on Monday. The firm has a market capitalization of $64.32 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a 50 day moving average price of $29.20 and a 200 day moving average price of $28.84. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the company earned $0.57 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.525 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.09%. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is currently 82.35%.

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.