Linscomb Wealth Inc. Sells 1,084 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Linscomb Wealth Inc. reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 172,341 shares of the oil and gas producer’s stock after selling 1,084 shares during the quarter. Linscomb Wealth Inc.’s holdings in Enterprise Products Partners were worth $5,405,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of EPD. Integrated Advisors Network LLC boosted its stake in shares of Enterprise Products Partners by 55.3% in the 3rd quarter. Integrated Advisors Network LLC now owns 30,878 shares of the oil and gas producer’s stock valued at $899,000 after purchasing an additional 10,994 shares in the last quarter. Mutual Advisors LLC lifted its stake in Enterprise Products Partners by 1.0% in the 3rd quarter. Mutual Advisors LLC now owns 186,487 shares of the oil and gas producer’s stock valued at $5,414,000 after purchasing an additional 1,935 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Enterprise Products Partners by 14.1% in the third quarter. Pinnacle Associates Ltd. now owns 132,696 shares of the oil and gas producer’s stock valued at $3,863,000 after buying an additional 16,371 shares in the last quarter. HM Payson & Co. increased its holdings in shares of Enterprise Products Partners by 8.7% during the third quarter. HM Payson & Co. now owns 38,473 shares of the oil and gas producer’s stock worth $1,120,000 after buying an additional 3,081 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Enterprise Products Partners by 0.9% in the 3rd quarter. US Bancorp DE now owns 688,851 shares of the oil and gas producer’s stock valued at $20,052,000 after acquiring an additional 6,267 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $32.85 on Friday. The company has a market capitalization of $71.19 billion, a PE ratio of 12.21, a P/E/G ratio of 1.37 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a twelve month low of $27.26 and a twelve month high of $34.63. The firm has a fifty day simple moving average of $32.80 and a 200 day simple moving average of $31.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company posted $0.72 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.52%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Enterprise Products Partners 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.