Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 24.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 637,477 shares of the oil and gas producer’s stock after selling 210,972 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Enterprise Products Partners were worth $18,474,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Blackstone Inc. increased its position in Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares during the period. Reaves W H & Co. Inc. raised its position in Enterprise Products Partners by 1,368.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after acquiring an additional 1,368,440 shares in the last quarter. Berkley W R Corp boosted its position in shares of Enterprise Products Partners by 24.5% during the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after purchasing an additional 1,000,000 shares in the last quarter. Distillate Capital Partners LLC grew its stake in shares of Enterprise Products Partners by 160,136.7% during the 2nd quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after purchasing an additional 767,055 shares during the period. Finally, Tortoise Capital Advisors L.L.C. lifted its stake in shares of Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after purchasing an additional 741,237 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 1.0 %

Enterprise Products Partners stock opened at $29.18 on Monday. The stock has a market cap of $63.37 billion, a PE ratio of 11.44, a P/E/G ratio of 1.50 and a beta of 1.03. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $29.17 and a 200 day moving average price of $28.93.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the prior year, the firm earned $0.57 EPS. Enterprise Products Partners’s revenue for the quarter was up 26.6% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a yield of 7.20%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Company 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.