NewEdge Advisors LLC Sells 75,889 Shares of Enterprise Products Partners L.P. $EPD

NewEdge Advisors LLC trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 20.1% during the 1st quarter, Holdings Channel reports. The fund owned 302,236 shares of the oil and gas producer’s stock after selling 75,889 shares during the period. NewEdge Advisors LLC’s holdings in Enterprise Products Partners were worth $11,437,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EPD. Everest Financial Group LLC boosted its stake in Enterprise Products Partners by 3.6% in the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after acquiring an additional 271 shares in the last quarter. Walker Asset Management LLC increased its position in shares of Enterprise Products Partners by 1.5% during the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock worth $756,000 after purchasing an additional 296 shares in the last quarter. Hunter Associates Investment Management LLC lifted its holdings in shares of Enterprise Products Partners by 3.8% during the 1st quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after purchasing an additional 300 shares during the last quarter. Mission Wealth Management LP boosted its position in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after purchasing an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. boosted its position in shares of Enterprise Products Partners by 5.9% in the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of a number of research analyst reports. Wall Street Zen cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Truist Financial upped their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Citigroup reissued a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Stock Up 0.2%

Enterprise Products Partners stock opened at $38.69 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The business’s 50-day simple moving average is $37.61 and its two-hundred day simple moving average is $36.92. The company has a market cap of $83.65 billion, a PE ratio of 14.33, a PEG ratio of 1.40 and a beta of 0.49. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.93 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is 81.48%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.