ProVise Management Group LLC Lowers Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

ProVise Management Group LLC lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 134,848 shares of the oil and gas producer’s stock after selling 10,472 shares during the quarter. ProVise Management Group LLC’s holdings in Enterprise Products Partners were worth $4,229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Assetmark Inc. lifted its position in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $1,943,000. Tranquility Partners LLC lifted its position in shares of Enterprise Products Partners by 1.5% in the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after acquiring an additional 346 shares in the last quarter. BIP Wealth LLC purchased a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $614,000. Finally, Avior Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 46.2% in the third quarter. Avior Wealth Management LLC now owns 17,409 shares of the oil and gas producer’s stock valued at $507,000 after purchasing an additional 5,500 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Scotiabank raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.90.

Enterprise Products Partners Trading Down 0.4 %

EPD opened at $33.80 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The business has a fifty day simple moving average of $33.31 and a 200-day simple moving average of $31.48. The firm has a market cap of $73.20 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.37 and a beta of 1.08. 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 (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.33%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

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.