Quadrant Private Wealth Management LLC Sells 3,001 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Quadrant Private Wealth Management LLC lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 54,227 shares of the oil and gas producer’s stock after selling 3,001 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,701,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Rosenberg Matthew Hamilton increased its position in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares during the period. DiNuzzo Private Wealth Inc. increased its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. increased its position in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $36,000. Finally, Bangor Savings Bank increased its position in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EPD. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. 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 report on Friday, January 3rd. Citigroup raised their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Four equities 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Up 0.9 %

EPD opened at $33.52 on Friday. The firm has a market capitalization of $72.65 billion, a P/E ratio of 12.46, a PEG ratio of 1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a fifty-two week low of $26.64 and a fifty-two week high of $34.63. The company’s 50-day moving average is $32.49 and its 200 day moving average is $30.74.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates 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 for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Research analysts expect that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.39%. Enterprise Products Partners’s payout ratio is currently 79.55%.

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.