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

Axxcess Wealth Management LLC lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 53.7% in the 4th quarter, HoldingsChannel reports. The firm owned 22,200 shares of the oil and gas producer’s stock after selling 25,798 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Enterprise Products Partners were worth $585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in EPD. Rational Advisors LLC purchased a new position in shares of Enterprise Products Partners during the third quarter worth $43,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $48,000. Community Bank N.A. increased its stake in shares of Enterprise Products Partners by 68.3% in the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 750 shares in the last quarter. Bear Mountain Capital Inc. acquired a new position in Enterprise Products Partners in the 4th quarter worth about $53,000. Finally, Headinvest LLC purchased a new position in Enterprise Products Partners during the third quarter worth approximately $62,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on EPD. Truist Financial boosted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays lifted their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Scotiabank increased 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. Finally, StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Stock Down 0.1 %

Shares of NYSE:EPD opened at $28.35 on Wednesday. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The stock has a market cap of $61.47 billion, a P/E ratio of 11.12 and a beta of 1.02. The business has a fifty day moving average of $28.68 and a two-hundred day moving average of $27.36. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Enterprise Products Partners’s quarterly revenue was up 18.6% on a year-over-year basis. On average, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.27%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 80.78%.

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.