Sigma Planning Corp Sells 20,303 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Sigma Planning Corp trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 50.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,724 shares of the oil and gas producer’s stock after selling 20,303 shares during the quarter. Sigma Planning Corp’s holdings in Enterprise Products Partners were worth $520,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in EPD. Rational Advisors LLC bought a new stake in Enterprise Products Partners during the third quarter worth approximately $43,000. Financial Gravity Asset Management Inc. bought a new stake in Enterprise Products Partners during the third quarter worth approximately $48,000. Bear Mountain Capital Inc. bought a new stake in Enterprise Products Partners during the fourth quarter worth approximately $53,000. Headinvest LLC bought a new stake in Enterprise Products Partners during the third quarter worth approximately $62,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Enterprise Products Partners by 31.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock worth $68,000 after acquiring an additional 614 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EPD has been the subject of several recent analyst reports. Mizuho restated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Truist Financial boosted their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, Wells Fargo & Company boosted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Stock Down 0.4 %

Enterprise Products Partners stock opened at $28.92 on Friday. The business has a fifty day moving average of $28.55 and a two-hundred day moving average of $27.32. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market cap of $62.71 billion, a P/E ratio of 11.48 and a beta of 1.02. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.12%. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

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.