Wealth Alliance Decreases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Wealth Alliance decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,935 shares of the oil and gas producer’s stock after selling 2,716 shares during the period. Wealth Alliance’s holdings in Enterprise Products Partners were worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bradley Foster & Sargent Inc. CT lifted its position in shares of Enterprise Products Partners by 0.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 219,755 shares of the oil and gas producer’s stock valued at $6,368,000 after buying an additional 924 shares in the last quarter. L & S Advisors Inc lifted its position in shares of Enterprise Products Partners by 24.5% during the 2nd quarter. L & S Advisors Inc now owns 9,340 shares of the oil and gas producer’s stock valued at $271,000 after buying an additional 1,840 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Enterprise Products Partners by 59.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 14,871 shares of the oil and gas producer’s stock valued at $431,000 after buying an additional 5,571 shares in the last quarter. Perennial Investment Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $202,000. Finally, Pekin Hardy Strauss Inc. raised its stake in Enterprise Products Partners by 6.4% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 169,918 shares of the oil and gas producer’s stock valued at $4,924,000 after purchasing an additional 10,265 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.1 %

Shares of EPD opened at $29.48 on Thursday. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a market capitalization of $64.02 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The stock has a fifty day simple moving average of $29.22 and a two-hundred day simple moving average of $28.87. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. As a group, equities 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 disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.12%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.08.

About Enterprise Products Partners

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.