IAG Wealth Partners LLC Sells 1,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

IAG Wealth Partners LLC decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 52.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 904 shares of the oil and gas producer’s stock after selling 1,000 shares during the period. IAG Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $26,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. JRM Investment Counsel LLC grew its position in shares of Enterprise Products Partners by 2.1% in the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after purchasing an additional 10,404 shares during the last quarter. Linscomb & Williams Inc. grew its stake in shares of Enterprise Products Partners by 16.6% in the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after acquiring an additional 29,112 shares during the last quarter. Cerity Partners LLC increased its position in Enterprise Products Partners by 89.9% during the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after acquiring an additional 137,044 shares during the period. Natixis Advisors L.P. acquired a new position in Enterprise Products Partners during the 4th quarter valued at $314,000. Finally, Cullen Investment Group LTD. bought a new stake in Enterprise Products Partners in the 4th quarter valued at $7,542,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

NYSE:EPD traded up $0.17 on Thursday, reaching $29.06. The stock had a trading volume of 2,267,732 shares, compared to its average volume of 4,641,683. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $63.11 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The stock has a fifty day moving average price of $28.98 and a 200-day moving average price of $28.48.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.23%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is currently 82.35%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EPD shares. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Finally, Truist Financial boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $33.08.

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.