Valley National Advisers Inc. Sells 479 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Valley National Advisers Inc. reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 32,431 shares of the oil and gas producer’s stock after selling 479 shares during the period. Valley National Advisers Inc.’s holdings in Enterprise Products Partners were worth $946,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Lazard Asset Management LLC raised its stake in Enterprise Products Partners by 9.3% in the third quarter. Lazard Asset Management LLC now owns 18,835 shares of the oil and gas producer’s stock valued at $515,000 after buying an additional 1,606 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $1,314,000. ELCO Management Co. LLC boosted its stake in Enterprise Products Partners by 1.4% in the 3rd quarter. ELCO Management Co. LLC now owns 59,877 shares of the oil and gas producer’s stock worth $1,639,000 after purchasing an additional 826 shares in the last quarter. Legacy Advisors LLC grew its position in Enterprise Products Partners by 0.5% during the 3rd quarter. Legacy Advisors LLC now owns 99,157 shares of the oil and gas producer’s stock worth $2,714,000 after purchasing an additional 521 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its stake in Enterprise Products Partners by 9.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 11,763 shares of the oil and gas producer’s stock valued at $322,000 after purchasing an additional 979 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $29.05 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $29.99. The stock’s 50-day moving average price is $28.52 and its 200-day moving average price is $27.94. The stock has a market capitalization of $63.08 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results 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. The company had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. Enterprise Products Partners’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were paid a $0.515 dividend. The ex-dividend date was Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EPD. Scotiabank boosted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Barclays boosted their price target 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. Truist Financial increased their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and an average target price of $32.77.

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.