Stratos Wealth Partners LTD. cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,468 shares of the oil and gas producer’s stock after selling 6,255 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Enterprise Products Partners were worth $2,895,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of EPD. ForthRight Wealth Management LLC acquired a new stake in Enterprise Products Partners in the fourth quarter worth $25,000. Capstone Triton Financial Group LLC acquired a new stake in Enterprise Products Partners in the fourth quarter worth $27,000. Reby Advisors LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at $29,000. Clearview Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at $30,000. Finally, Capital Asset Advisory Services LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at $32,000. 30.51% of the stock is currently owned by hedge funds and other institutional investors.
EPD stock opened at $22.95 on Tuesday. The business has a 50-day moving average of $22.85 and a 200-day moving average of $20.94. Enterprise Products Partners L.P. has a fifty-two week low of $14.90 and a fifty-two week high of $23.71. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.12 and a quick ratio of 0.71. The stock has a market capitalization of $50.07 billion, a P/E ratio of 11.14 and a beta of 1.38.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 12th. Investors of record on Friday, April 30th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.84%. The ex-dividend date is Thursday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 83.72%.
A number of research analysts have recently commented on the company. Morgan Stanley raised their price target on Enterprise Products Partners from $29.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, March 29th. Mizuho raised their price target on Enterprise Products Partners from $24.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, January 20th. Finally, TD Securities started coverage on Enterprise Products Partners in a report on Tuesday, April 13th. They set a “buy” rating and a $28.00 target price on the stock. Thirteen research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $25.33.
About Enterprise Products Partners
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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