Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Obermeyer Wealth Partners

Obermeyer Wealth Partners lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,534 shares of the oil and gas producer’s stock after selling 4,761 shares during the quarter. Obermeyer Wealth Partners’ holdings in Enterprise Products Partners were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Rosenberg Matthew Hamilton raised its holdings in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC lifted its holdings in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the 4th quarter valued at about $30,000. Finally, National Bank of Canada FI boosted its stake in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.9%

Shares of Enterprise Products Partners stock opened at $31.40 on Tuesday. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The business’s 50 day simple moving average is $31.73 and its 200 day simple moving average is $32.07. The firm has a market cap of $67.99 billion, a PE ratio of 11.67, a P/E/G ratio of 1.37 and a beta of 0.67. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing 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 $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.82%. Enterprise Products Partners’s payout ratio is currently 80.15%.

Wall Street Analyst Weigh In

EPD has been the subject of several analyst reports. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.89.

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.