IAG Wealth Partners LLC Cuts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

IAG Wealth Partners LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 52.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 904 shares of the oil and gas producer’s stock after selling 1,000 shares during the quarter. IAG Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $26,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. JRM Investment Counsel LLC grew its holdings in shares of Enterprise Products Partners by 2.1% in the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after acquiring an additional 10,404 shares in the last quarter. Linscomb & Williams Inc. boosted its holdings in shares of Enterprise Products Partners by 16.6% in the 4th quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after buying an additional 29,112 shares during the last quarter. Cerity Partners LLC grew its position in Enterprise Products Partners by 89.9% during the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after buying an additional 137,044 shares during the period. Natixis Advisors L.P. purchased a new stake in Enterprise Products Partners during the fourth quarter worth about $314,000. Finally, Cullen Investment Group LTD. purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $7,542,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EPD. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Morgan Stanley dropped their price objective on shares of 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. Finally, Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Price Performance

Shares of EPD traded up $0.17 during mid-day trading on Thursday, reaching $29.06. 2,267,732 shares of the stock traded hands, compared to its average volume of 4,641,683. The company has a market cap of $63.11 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The firm has a fifty day moving average price of $28.98 and a 200 day moving average price of $28.48. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.23%. Enterprise Products Partners’s payout ratio is presently 82.35%.

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.