Avidian Wealth Solutions LLC Reduces Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Avidian Wealth Solutions LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 7.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 54,226 shares of the oil and gas producer’s stock after selling 4,208 shares during the period. Avidian Wealth Solutions LLC’s holdings in Enterprise Products Partners were worth $1,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cerity Partners LLC increased its position in shares of Enterprise Products Partners by 89.9% in the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after purchasing an additional 137,044 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in Enterprise Products Partners by 8.7% during the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after buying an additional 3,075 shares in the last quarter. Cullen Investment Group LTD. bought a new position in Enterprise Products Partners during the 4th quarter worth approximately $7,542,000. Sapient Capital LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $3,271,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $3,793,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

EPD stock traded up $0.05 during trading on Friday, hitting $28.10. The company had a trading volume of 3,599,060 shares, compared to its average volume of 5,182,867. The business has a 50 day moving average of $28.64 and a 200 day moving average of $27.35. The firm has a market capitalization of $60.93 billion, a price-to-earnings ratio of 11.02 and a beta of 1.02. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.99.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Barclays lifted their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Mizuho reiterated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Scotiabank upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $32.75.

Enterprise Products Partners 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.