Meridian Wealth Advisors LLC Sells 11,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Meridian Wealth Advisors LLC lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 21.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,348 shares of the oil and gas producer's stock after selling 11,000 shares during the period. Meridian Wealth Advisors LLC's holdings in Enterprise Products Partners were worth $1,297,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of EPD. LPL Financial LLC lifted its holdings in shares of Enterprise Products Partners by 10.7% during the fourth quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer's stock valued at $104,310,000 after purchasing an additional 321,145 shares during the last quarter. Sfmg LLC raised its holdings in Enterprise Products Partners by 31.8% during the 4th quarter. Sfmg LLC now owns 20,746 shares of the oil and gas producer's stock worth $651,000 after buying an additional 5,000 shares during the period. Intellus Advisors LLC purchased a new stake in Enterprise Products Partners during the fourth quarter valued at about $1,947,000. Virtu Financial LLC acquired a new position in shares of Enterprise Products Partners in the fourth quarter worth about $1,098,000. Finally, ZEGA Investments LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $712,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Down 0.5 %

EPD traded down $0.17 during midday trading on Tuesday, hitting $33.51. 3,135,900 shares of the company's stock traded hands, compared to its average volume of 4,134,627. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market cap of $72.57 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The stock's fifty day simple moving average is $33.43 and its 200-day simple moving average is $31.61. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63.

Remove Ads

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This is a positive change 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 6.39%. Enterprise Products Partners's dividend payout ratio is currently 79.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Scotiabank raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company downgraded 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. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.90.

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.