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

Avidian Wealth Solutions LLC trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

Other large investors have also recently modified their holdings of the company. Alps Advisors Inc. grew its position in shares of Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after buying an additional 6,369,350 shares during the period. Blackstone Inc. increased its stake in shares of Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Enterprise Products Partners by 14.2% during the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after purchasing an additional 2,155,640 shares during the last quarter. Invesco Ltd. raised its position in shares of Enterprise Products Partners by 10.5% in the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after purchasing an additional 969,199 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Enterprise Products Partners by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after purchasing an additional 1,325,390 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD traded up $0.05 on Friday, hitting $28.10. 3,599,060 shares of the company traded hands, compared to its average volume of 5,182,867. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average price is $28.64 and its 200-day moving average price is $27.35. The company has a market capitalization of $60.93 billion, a price-to-earnings ratio of 11.02 and a beta of 1.02. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm posted $0.64 EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EPD. Scotiabank raised their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Barclays upped their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Truist Financial boosted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.