Cedar Wealth Management LLC Sells 475 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cedar Wealth Management LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,314 shares of the oil and gas producer’s stock after selling 475 shares during the period. Cedar Wealth Management LLC’s holdings in Enterprise Products Partners were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EPD. Aveo Capital Partners LLC grew its holdings in Enterprise Products Partners by 1.3% in the fourth quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock worth $1,464,000 after purchasing an additional 716 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Enterprise Products Partners by 37.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,233 shares of the oil and gas producer’s stock worth $349,000 after buying an additional 3,638 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in Enterprise Products Partners by 13.0% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,911 shares of the oil and gas producer’s stock valued at $392,000 after buying an additional 1,710 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Enterprise Products Partners by 2.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 529,375 shares of the oil and gas producer’s stock valued at $13,949,000 after buying an additional 11,549 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Enterprise Products Partners by 1.3% in the fourth quarter. US Bancorp DE now owns 718,587 shares of the oil and gas producer’s stock worth $18,935,000 after acquiring an additional 9,421 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Enterprise Products Partners Trading Down 0.4 %

Shares of EPD stock opened at $29.38 on Friday. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The firm has a fifty day moving average price of $29.22 and a 200-day moving average price of $28.87. The company has a market cap of $63.80 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.15%. 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%.

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.