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

EP Wealth Advisors LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 17.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,639 shares of the oil and gas producer’s stock after buying an additional 20,151 shares during the period. EP Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $3,495,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EPD. Linscomb & Williams Inc. raised its stake in Enterprise Products Partners by 16.6% during the 4th quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after acquiring an additional 29,112 shares in the last quarter. Cerity Partners LLC lifted its holdings in Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after purchasing an additional 137,044 shares during the period. Natixis Advisors L.P. bought a new position in Enterprise Products Partners in the 4th quarter valued at about $314,000. Sapient Capital LLC acquired a new position in Enterprise Products Partners during the 4th quarter valued at about $3,271,000. Finally, Cullen Investment Group LTD. acquired a new position in Enterprise Products Partners during the 4th quarter valued at about $7,542,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EPD shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Wells Fargo & Company increased their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Truist Financial raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Stock Up 0.0 %

Shares of EPD traded up $0.01 during trading hours on Friday, reaching $28.33. The company’s stock had a trading volume of 2,258,711 shares, compared to its average volume of 2,950,421. The company has a 50 day moving average of $28.55 and a two-hundred day moving average of $27.74. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The firm has a market cap of $61.52 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.32 and a beta of 1.03. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $29.99.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.73 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.27%. Enterprise Products Partners’s dividend payout ratio is 80.78%.

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.