Welch & Forbes LLC Has $668,000 Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Welch & Forbes LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,339 shares of the oil and gas producer’s stock after selling 500 shares during the period. Welch & Forbes LLC’s holdings in Enterprise Products Partners were worth $668,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Apollon Wealth Management LLC boosted its position in shares of Enterprise Products Partners by 18.7% in the fourth quarter. Apollon Wealth Management LLC now owns 106,595 shares of the oil and gas producer’s stock valued at $2,809,000 after acquiring an additional 16,795 shares during the period. Lincoln National Corp grew its position in shares of Enterprise Products Partners by 15.9% during the 4th quarter. Lincoln National Corp now owns 98,694 shares of the oil and gas producer’s stock worth $2,601,000 after purchasing an additional 13,507 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Enterprise Products Partners by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 1,223,829 shares of the oil and gas producer’s stock worth $32,248,000 after purchasing an additional 16,642 shares during the period. Private Advisor Group LLC raised its position in shares of Enterprise Products Partners by 6.4% in the fourth quarter. Private Advisor Group LLC now owns 323,292 shares of the oil and gas producer’s stock valued at $8,519,000 after buying an additional 19,544 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth approximately $293,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.4 %

NYSE:EPD traded up $0.11 during trading hours on Wednesday, hitting $28.46. 1,165,285 shares of the company traded hands, compared to its average volume of 4,937,692. The firm’s 50-day simple moving average is $28.68 and its 200-day simple moving average is $27.36. The company has a market cap of $61.71 billion, a PE ratio of 11.13 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Equities analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.24%. Enterprise Products Partners’s payout ratio is currently 80.78%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EPD. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Mizuho reiterated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Wells Fargo & Company boosted their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Truist Financial increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Scotiabank boosted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Two 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.75.

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.