Robertson Stephens Wealth Management LLC Sells 16,631 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Robertson Stephens Wealth Management LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 32.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,980 shares of the oil and gas producer’s stock after selling 16,631 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Vermont lifted its stake in Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 300 shares during the period. Griffin Asset Management Inc. lifted its stake in Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after buying an additional 305 shares during the period. Evanson Asset Management LLC lifted its stake in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 306 shares during the period. Sandbox Financial Partners LLC lifted its stake in Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 309 shares during the period. Finally, Armstrong Advisory Group Inc. lifted its stake in Enterprise Products Partners by 4.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 8,161 shares of the oil and gas producer’s stock valued at $256,000 after buying an additional 329 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Citigroup upped their target price on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Four investment 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. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Trading Down 0.6 %

Shares of Enterprise Products Partners stock opened at $32.84 on Friday. The stock has a fifty day simple moving average of $32.54 and a 200 day simple moving average of $30.61. Enterprise Products Partners L.P. has a 12-month low of $26.12 and a 12-month high of $34.63. The company has a market capitalization of $71.17 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. 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 (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed 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 6.52%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 80.15%.

Enterprise Products Partners Company 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.