Sound Income Strategies LLC Cuts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Sound Income Strategies LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,854 shares of the oil and gas producer’s stock after selling 389 shares during the quarter. Sound Income Strategies LLC’s holdings in Enterprise Products Partners were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. RFG Advisory LLC boosted its holdings in shares of Enterprise Products Partners by 199.4% during the 4th quarter. RFG Advisory LLC now owns 20,704 shares of the oil and gas producer’s stock valued at $649,000 after purchasing an additional 13,788 shares during the last quarter. Silver Lake Advisory LLC lifted its position in shares of Enterprise Products Partners by 1.4% in the fourth quarter. Silver Lake Advisory LLC now owns 47,524 shares of the oil and gas producer’s stock worth $1,490,000 after buying an additional 672 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in Enterprise Products Partners by 3.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 22,978 shares of the oil and gas producer’s stock valued at $721,000 after buying an additional 760 shares during the last quarter. Brighton Jones LLC grew its holdings in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after buying an additional 5,425 shares in the last quarter. Finally, Veracity Capital LLC increased its stake in Enterprise Products Partners by 1.4% in the 4th quarter. Veracity Capital LLC now owns 40,231 shares of the oil and gas producer’s stock worth $1,262,000 after acquiring an additional 575 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.2 %

Shares of NYSE EPD opened at $33.59 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 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 company has a market cap of $72.81 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.60 and a beta of 1.09. The business’s 50 day moving average price is $32.33 and its 200-day moving average price is $30.36.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.37%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research reports. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Scotiabank began 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. Finally, Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

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.