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

Spire Wealth Management reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 45,754 shares of the oil and gas producer’s stock after selling 871 shares during the quarter. Spire Wealth Management’s holdings in Enterprise Products Partners were worth $1,228,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in EPD. Brown Advisory Inc. raised its position in Enterprise Products Partners by 8.5% in the third quarter. Brown Advisory Inc. now owns 178,696 shares of the oil and gas producer’s stock valued at $4,891,000 after purchasing an additional 13,956 shares during the period. FORVIS Wealth Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 14.3% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 16,028 shares of the oil and gas producer’s stock valued at $439,000 after purchasing an additional 2,005 shares during the last quarter. Osborne Partners Capital Management LLC acquired a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $233,000. Grandview Asset Management LLC purchased a new position in Enterprise Products Partners during the third quarter worth about $354,000. Finally, Colorado Capital Management Inc. acquired a new stake in Enterprise Products Partners in the third quarter valued at about $204,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EPD shares. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Company raised their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Finally, Truist Financial increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $32.75.

Enterprise Products Partners Trading Down 0.0 %

Shares of EPD opened at $28.34 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The stock has a market cap of $61.45 billion, a price-to-earnings ratio of 11.12 and a beta of 1.02. The firm has a 50 day simple moving average of $28.68 and a 200-day simple moving average of $27.36.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is presently 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.