SeaCrest Wealth Management LLC Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

SeaCrest Wealth Management LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 30.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,199 shares of the oil and gas producer’s stock after selling 7,568 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Enterprise Products Partners were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners during the 4th quarter worth approximately $28,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners in the first quarter valued at $29,000. Financial Gravity Asset Management Inc. bought a new position in Enterprise Products Partners during the 3rd quarter valued at $48,000. Community Bank N.A. grew its holdings in Enterprise Products Partners by 68.3% during the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 750 shares in the last quarter. Finally, American National Bank bought a new position in shares of Enterprise Products Partners during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $29.05 on Wednesday. The firm’s 50 day moving average is $28.52 and its two-hundred day moving average is $27.92. The firm has a market capitalization of $63.07 billion, a P/E ratio of 11.39, a PEG ratio of 1.35 and a beta of 1.04. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $29.99.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. Analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EPD shares. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Truist Financial upped their price target 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. Barclays lifted their price objective on shares of 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 shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Finally, Mizuho reaffirmed a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $32.77.

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.