Robertson Stephens Wealth Management LLC Reduces Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Robertson Stephens Wealth Management LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 32.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,980 shares of the oil and gas producer’s stock after selling 16,631 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,066,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rosenberg Matthew Hamilton lifted 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 valued at $26,000 after buying 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 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its position in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $36,000. Finally, Bangor Savings Bank lifted its holdings in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $32.84 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $71.17 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The business’s 50-day moving average price is $32.54 and its 200-day moving average price is $30.61. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.52%. Enterprise Products Partners’s dividend payout ratio is 80.15%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EPD shares. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

About Enterprise Products Partners

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.