Atria Investments Inc Lowers Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Atria Investments Inc trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 16.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 34,442 shares of the oil and gas producer’s stock after selling 6,816 shares during the period. Atria Investments Inc’s holdings in Enterprise Products Partners were worth $1,080,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EPD. Verdence Capital Advisors LLC lifted its position in shares of Enterprise Products Partners by 21.5% in the third quarter. Verdence Capital Advisors LLC now owns 10,784 shares of the oil and gas producer’s stock valued at $314,000 after acquiring an additional 1,910 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth about $91,000. Apollon Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 2.1% in the third quarter. Apollon Wealth Management LLC now owns 107,512 shares of the oil and gas producer’s stock worth $3,130,000 after purchasing an additional 2,255 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Enterprise Products Partners by 11.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 12,221 shares of the oil and gas producer’s stock worth $356,000 after purchasing an additional 1,266 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EPD shares. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Scotiabank boosted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.30.

Enterprise Products Partners Trading Down 0.6 %

EPD opened at $32.96 on Thursday. The stock has a market cap of $71.37 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.37 and a beta of 1.08. The stock’s 50 day moving average price is $33.18 and its 200-day moving average price is $31.34. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.49%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.