Axxcess Wealth Management LLC Has $585,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Axxcess Wealth Management LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 53.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,200 shares of the oil and gas producer’s stock after selling 25,798 shares during the period. Axxcess Wealth Management LLC’s holdings in Enterprise Products Partners were worth $585,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brown Advisory Inc. lifted its stake in shares of Enterprise Products Partners by 8.5% in the third quarter. Brown Advisory Inc. now owns 178,696 shares of the oil and gas producer’s stock worth $4,891,000 after acquiring an additional 13,956 shares during the period. FORVIS Wealth Advisors LLC lifted its position in shares of Enterprise Products Partners by 14.3% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 16,028 shares of the oil and gas producer’s stock worth $439,000 after purchasing an additional 2,005 shares during the period. Osborne Partners Capital Management LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at $233,000. Grandview Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $354,000. Finally, Colorado Capital Management Inc. bought a new stake in Enterprise Products Partners during the third quarter valued at $204,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $28.35 on Wednesday. The firm’s 50 day moving average is $28.68 and its 200 day moving average is $27.36. The stock has a market capitalization of $61.47 billion, a P/E ratio of 11.12 and a beta of 1.02. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.27%. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Scotiabank raised their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Wells Fargo & Company upped their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $32.75.

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.