Foresight Wealth Management LLC lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 24.1% during the first quarter, Holdings Channel reports. The fund owned 12,489 shares of the oil and gas producer’s stock after selling 3,970 shares during the period. Foresight Wealth Management LLC’s holdings in Enterprise Products Partners were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nalls Sherbakoff Group LLC bought a new stake in Enterprise Products Partners during the fourth quarter worth approximately $25,000. Ffcm LLC grew its position in Enterprise Products Partners by 50.0% in the fourth quarter. Ffcm LLC now owns 1,245 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 415 shares during the last quarter. Murphy Pohlad Asset Management LLC acquired a new position in Enterprise Products Partners in the fourth quarter worth approximately $31,000. Essex Savings Bank acquired a new position in Enterprise Products Partners in the fourth quarter worth approximately $32,000. Finally, PRW Wealth Management LLC acquired a new position in Enterprise Products Partners in the fourth quarter worth approximately $32,000. 36.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EPD stock traded up $0.03 on Wednesday, hitting $28.58. The company’s stock had a trading volume of 22,086 shares, compared to its average volume of 3,094,111. The company has a current ratio of 0.77, a quick ratio of 0.58 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.05. The firm has a market cap of $61.76 billion, a PE ratio of 14.74, a PEG ratio of 3.47 and a beta of 0.95.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.4375 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.75 annualized dividend and a dividend yield of 6.12%. Enterprise Products Partners’s payout ratio is presently 90.21%.
EPD has been the topic of several research analyst reports. Evercore ISI initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday, February 5th. They set an “outperform” rating on the stock. Bank of America set a $32.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Goldman Sachs Group upgraded shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $32.00 in a report on Tuesday, April 2nd. Finally, Zacks Investment Research cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Friday, February 15th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $33.27.
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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
Further Reading: Channel Trading
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