Collaborative Wealth Managment Inc. Lowers Position in Enterprise Products Partners L.P. (NYSE:EPD)

Collaborative Wealth Managment Inc. cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,142 shares of the oil and gas producer’s stock after selling 1,099 shares during the quarter. Collaborative Wealth Managment Inc.’s holdings in Enterprise Products Partners were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of EPD. Assetmark Inc. boosted its holdings in 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 acquiring an additional 1,188 shares during the period. Aptus Capital Advisors LLC purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $240,000. Oppenheimer Asset Management Inc. boosted its holdings in Enterprise Products Partners by 11.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 71,474 shares of the oil and gas producer’s stock valued at $2,081,000 after acquiring an additional 7,536 shares during the period. Curi RMB Capital LLC boosted its holdings in Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after acquiring an additional 339 shares during the period. Finally, Balboa Wealth Partners purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $219,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Scotiabank raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Morgan Stanley increased their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $33.54 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The firm has a market capitalization of $72.63 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The stock’s 50-day simple moving average is $33.23 and its 200-day simple moving average is $31.40.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The company 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 20.48% and a net margin of 10.49%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given 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 of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.38%. Enterprise Products Partners’s payout ratio is 79.55%.

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.