Walled Lake Planning & Wealth Management LLC Sells 2,435 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Walled Lake Planning & Wealth Management LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 19.0% in the fourth quarter, Holdings Channel reports. The firm owned 10,369 shares of the oil and gas producer’s stock after selling 2,435 shares during the period. Walled Lake Planning & Wealth Management LLC’s holdings in Enterprise Products Partners were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Verity & Verity LLC raised its position in Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after acquiring an additional 26,032 shares during the period. Spinnaker Trust bought a new position in Enterprise Products Partners during the fourth quarter valued at $280,000. FourThought Financial Partners LLC increased its position in Enterprise Products Partners by 18.5% in the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after buying an additional 21,970 shares during the last quarter. FMR LLC raised its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its position in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after buying an additional 51,809 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 0.4 %

Shares of NYSE EPD opened at $34.09 on Friday. The business has a 50-day moving average of $33.46 and a 200-day moving average of $31.73. The firm has a market capitalization of $73.83 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.28%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EPD shares. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.60.

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.