Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 21.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,348 shares of the oil and gas producer’s stock after selling 11,000 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $1,297,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rosenberg Matthew Hamilton increased its position in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the last quarter. Tidemark LLC raised its position in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $29,000. Bangor Savings Bank grew its position in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 1.2 %

Shares of NYSE:EPD opened at $33.69 on Friday. The company has a market cap of $72.95 billion, a PE ratio of 12.52, a P/E/G ratio of 1.37 and a beta of 1.08. The company’s 50 day moving average is $33.41 and its two-hundred day moving average is $31.56. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. 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 (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.35%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank upped their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Morgan Stanley lifted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Finally, Barclays raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.90.

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.