Marcum Wealth LLC Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Marcum Wealth LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 30.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,889 shares of the oil and gas producer’s stock after selling 5,153 shares during the quarter. Marcum Wealth LLC’s holdings in Enterprise Products Partners were worth $373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Thoroughbred Financial Services LLC acquired a new position in shares of Enterprise Products Partners during the second quarter worth $439,000. Oppenheimer Asset Management Inc. increased its stake in Enterprise Products Partners by 1.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 63,938 shares of the oil and gas producer’s stock worth $1,853,000 after buying an additional 611 shares during the period. Citizens Financial Group Inc. RI acquired a new position in Enterprise Products Partners in the 2nd quarter worth $424,000. Moors & Cabot Inc. grew its stake in shares of Enterprise Products Partners by 2.0% during the second quarter. Moors & Cabot Inc. now owns 390,379 shares of the oil and gas producer’s stock valued at $11,313,000 after acquiring an additional 7,723 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. grew its stake in shares of Enterprise Products Partners by 6.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 169,918 shares of the oil and gas producer’s stock valued at $4,924,000 after acquiring an additional 10,265 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company downgraded shares of 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 report on Wednesday, December 18th. 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 company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Trading Up 2.7 %

NYSE EPD opened at $33.43 on Wednesday. The firm has a market capitalization of $72.46 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. Enterprise Products Partners L.P. has a one year low of $26.12 and a one year high of $34.63. The company has a 50-day simple moving average of $31.87 and a 200-day simple moving average of $30.15. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

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

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.40%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

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.