Tritonpoint Wealth LLC Sells 8,175 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Tritonpoint Wealth LLC lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,726 shares of the oil and gas producer's stock after selling 8,175 shares during the quarter. Tritonpoint Wealth LLC's holdings in Enterprise Products Partners were worth $3,159,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EPD. Rosenberg Matthew Hamilton increased its position in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. lifted its holdings in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock worth $35,000 after acquiring an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners in the third quarter worth about $36,000. Finally, Bangor Savings Bank increased its position in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer's stock valued at $40,000 after buying an additional 1,072 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

EPD traded up $0.34 on Wednesday, hitting $33.33. 2,647,351 shares of the company's stock were exchanged, compared to its average volume of 4,872,668. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63. The firm has a market cap of $72.23 billion, a PE ratio of 12.48, a P/E/G ratio of 1.54 and a beta of 1.09. The stock has a fifty day moving average of $32.55 and a two-hundred day moving average of $30.59. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners's revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Friday, January 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's payout ratio is 80.15%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price objective on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Finally, Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 target price on the stock. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.44.

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.