Rede Wealth LLC Trims Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Rede Wealth LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% in the fourth quarter, HoldingsChannel reports. The firm owned 27,256 shares of the oil and gas producer’s stock after selling 1,105 shares during the quarter. Rede Wealth LLC’s holdings in Enterprise Products Partners were worth $855,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EPD. Northeast Investment Management purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $212,000. Empowered Funds LLC boosted its position in Enterprise Products Partners by 14.6% during the fourth quarter. Empowered Funds LLC now owns 208,151 shares of the oil and gas producer’s stock worth $6,528,000 after acquiring an additional 26,497 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in Enterprise Products Partners by 1.5% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 93,145 shares of the oil and gas producer’s stock worth $2,921,000 after acquiring an additional 1,420 shares during the period. Apollon Wealth Management LLC raised its holdings in Enterprise Products Partners by 4.8% in the 4th quarter. Apollon Wealth Management LLC now owns 112,682 shares of the oil and gas producer’s stock valued at $3,534,000 after acquiring an additional 5,170 shares during the last quarter. Finally, Apollon Financial LLC lifted its stake in shares of Enterprise Products Partners by 5.8% during the 4th quarter. Apollon Financial LLC now owns 21,166 shares of the oil and gas producer’s stock worth $664,000 after purchasing an additional 1,166 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of recent analyst reports. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Citigroup upped their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Trading Up 0.3 %

NYSE:EPD opened at $32.96 on Friday. Enterprise Products Partners L.P. has a 12 month low of $26.14 and a 12 month high of $34.63. The business’s 50-day moving average is $32.50 and its two-hundred day moving average is $30.64. 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 firm has a market capitalization of $71.45 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Research analysts predict that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.49%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.