Westover Capital Advisors LLC Sells 1,500 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Westover Capital Advisors LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,244 shares of the oil and gas producer’s stock after selling 1,500 shares during the quarter. Westover Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $541,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton lifted its holdings in 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 valued at $26,000 after purchasing an additional 656 shares during the last quarter. Assetmark Inc. boosted its holdings in Enterprise Products Partners by 19,800.0% in the 3rd 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. purchased a new position in Enterprise Products Partners in the 3rd quarter valued at approximately $36,000. Bangor Savings Bank raised its holdings in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EPD. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $33.65 on Tuesday. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market cap of $72.94 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The firm’s fifty day moving average price is $32.91 and its 200-day moving average price is $31.16.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.36%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend 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.