ORG Wealth Partners LLC Lowers Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

ORG Wealth Partners LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 53,626 shares of the oil and gas producer’s stock after selling 5,008 shares during the period. Enterprise Products Partners makes up about 0.6% of ORG Wealth Partners LLC’s portfolio, making the stock its 16th biggest position. ORG Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $1,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in EPD. Pathway Financial Advisers LLC raised its stake in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Barclays PLC raised its position in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. FMR LLC boosted its position in Enterprise Products Partners by 9.3% during 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 purchasing an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in Enterprise Products Partners in the third quarter valued at about $30,746,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

EPD traded down $0.10 during midday trading on Friday, hitting $32.34. 1,923,049 shares of the company were exchanged, compared to its average volume of 3,059,572. The firm has a market capitalization of $70.10 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company’s 50 day simple moving average is $31.65 and its 200 day simple moving average is $30.05. 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 1-year low of $26.12 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.62%. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 80.15%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EPD. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.60.

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.