Integrated Wealth Concepts LLC Sells 21,723 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Integrated Wealth Concepts LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,648 shares of the oil and gas producer's stock after selling 21,723 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Enterprise Products Partners were worth $3,156,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Trust Co. of Vermont lifted its position in shares of Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock valued at $104,000 after acquiring an additional 300 shares during the period. Griffin Asset Management Inc. increased its position in shares of Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock valued at $1,203,000 after buying an additional 305 shares in the last quarter. Evanson Asset Management LLC raised its stake in shares of Enterprise Products Partners by 0.4% during the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock worth $2,304,000 after buying an additional 306 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock valued at $78,000 after acquiring an additional 308 shares during the last quarter. Finally, Sandbox Financial Partners LLC increased its holdings in Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock valued at $317,000 after acquiring an additional 309 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Down 0.8 %

NYSE EPD traded down $0.25 during trading on Wednesday, reaching $30.01. 2,578,229 shares of the company's stock were exchanged, compared to its average volume of 4,378,642. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The company's fifty day simple moving average is $32.26 and its 200-day simple moving average is $31.97. The firm has a market capitalization of $64.99 billion, a PE ratio of 11.16, a P/E/G ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. During the same period last year, the business earned $0.66 earnings per share. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is 79.55%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EPD. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, Truist Financial raised 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 investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $36.89.

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.