B. Riley Wealth Advisors Inc. Lowers Position in Enterprise Products Partners L.P. (NYSE:EPD)

B. Riley Wealth Advisors Inc. trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 24.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 637,477 shares of the oil and gas producer's stock after selling 210,972 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Enterprise Products Partners were worth $18,474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blackstone Inc. increased its stake in Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer's stock worth $686,712,000 after buying an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. grew its stake in Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer's stock worth $470,091,000 after acquiring an additional 741,237 shares in the last quarter. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 0.9% during the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer's stock worth $455,761,000 after acquiring an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in shares of Enterprise Products Partners by 2.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer's stock valued at $326,091,000 after acquiring an additional 284,772 shares in the last quarter. Finally, Chickasaw Capital Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.6% in the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer's stock valued at $159,901,000 after purchasing an additional 87,930 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EPD shares. Morgan Stanley dropped their price target on Enterprise Products Partners from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Monday, June 10th. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and an average target price of $33.08.

Enterprise Products Partners Stock Down 0.2 %

Shares of EPD stock traded down $0.07 during trading hours on Monday, reaching $29.12. 2,570,088 shares of the company's stock were exchanged, compared to its average volume of 4,392,655. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The stock's 50 day moving average is $29.17 and its 200-day moving average is $28.93. 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 company has a market cap of $63.22 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 1.50 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company's quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. 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 business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.21%. Enterprise Products Partners's dividend payout ratio (DPR) is 82.35%.

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.