Wedbush Securities Inc. Has $2.53 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Wedbush Securities Inc. lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,540 shares of the oil and gas producer’s stock after selling 1,424 shares during the quarter. Wedbush Securities Inc.’s holdings in Enterprise Products Partners were worth $2,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Samjo Management LLC increased its position in shares of Enterprise Products Partners by 43.0% during the fourth quarter. Samjo Management LLC now owns 31,600 shares of the oil and gas producer’s stock worth $991,000 after acquiring an additional 9,500 shares in the last quarter. Perennial Investment Advisors LLC increased its holdings in Enterprise Products Partners by 12.4% during the 4th quarter. Perennial Investment Advisors LLC now owns 8,457 shares of the oil and gas producer’s stock worth $265,000 after purchasing an additional 936 shares in the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 16.3% in the fourth quarter. KCM Investment Advisors LLC now owns 26,642 shares of the oil and gas producer’s stock valued at $835,000 after purchasing an additional 3,729 shares in the last quarter. Wescott Financial Advisory Group LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $214,000. Finally, Thoroughbred Financial Services LLC grew its holdings in Enterprise Products Partners by 3.6% during the fourth quarter. Thoroughbred Financial Services LLC now owns 15,701 shares of the oil and gas producer’s stock worth $492,000 after buying an additional 540 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of analyst reports. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.89.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $30.83 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market cap of $66.76 billion, a PE ratio of 11.46, a PEG ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The stock’s fifty day moving average price is $33.41 and its two-hundred day moving average price is $31.86.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, equities research 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 announced 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 is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.94%. Enterprise Products Partners’s 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.