Robertson Stephens Wealth Management LLC Sells 24,800 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Robertson Stephens Wealth Management LLC trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 33.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,276 shares of the oil and gas producer’s stock after selling 24,800 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,298,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after buying an additional 6,369,350 shares in the last quarter. Blackstone Inc. grew its position in Enterprise Products Partners by 12.0% in the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after purchasing an additional 2,472,847 shares in the last quarter. American Century Companies Inc. increased its stake in Enterprise Products Partners by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after buying an additional 2,155,640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Enterprise Products Partners by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after buying an additional 1,325,390 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Enterprise Products Partners by 2,436.1% in the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock worth $308,640,000 after buying an additional 1,125,117 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Scotiabank boosted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Barclays upped their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Truist Financial lifted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.75.

Enterprise Products Partners Stock Down 0.2 %

Shares of NYSE EPD traded down $0.05 on Friday, reaching $28.00. 1,217,891 shares of the company’s stock traded hands, compared to its average volume of 4,969,176. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99. The business’s 50 day simple moving average is $28.64 and its two-hundred day simple moving average is $27.35. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market cap of $60.71 billion, a price-to-earnings ratio of 10.96 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The firm’s revenue was up 18.6% compared to the same quarter last year. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.36%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.