Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Lessened by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,825 shares of the oil and gas producer’s stock after selling 1,282 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $491,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of EPD. Burkett Financial Services LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $28,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners in the first quarter worth approximately $29,000. Financial Gravity Asset Management Inc. bought a new position in Enterprise Products Partners during the 3rd quarter valued at $48,000. Community Bank N.A. raised its stake in shares of Enterprise Products Partners by 68.3% in the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 750 shares in the last quarter. Finally, American National Bank acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Scotiabank increased their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Truist Financial lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. cut their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Finally, Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $32.77.

Enterprise Products Partners Stock Down 0.2 %

Shares of EPD traded down $0.06 during trading hours on Friday, reaching $29.00. The company’s stock had a trading volume of 86,214 shares, compared to its average volume of 4,416,998. The company has a 50 day moving average of $28.52 and a two-hundred day moving average of $27.95. 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 1-year low of $25.61 and a 1-year high of $29.99. The firm has a market cap of $62.98 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 1.35 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results 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. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

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.