Red Door Wealth Management LLC Buys 699 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Red Door Wealth Management LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,654 shares of the oil and gas producer’s stock after acquiring an additional 699 shares during the period. Red Door Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Endeavor Private Wealth Inc. acquired a new stake in Enterprise Products Partners in the fourth quarter valued at $84,000. Mutual Advisors LLC grew its position in shares of Enterprise Products Partners by 7.8% during the 4th quarter. Mutual Advisors LLC now owns 200,941 shares of the oil and gas producer’s stock worth $6,766,000 after purchasing an additional 14,454 shares in the last quarter. Traynor Capital Management Inc. bought a new position in Enterprise Products Partners during the 4th quarter worth $212,000. Janney Montgomery Scott LLC grew its stake in Enterprise Products Partners by 13.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 848,749 shares of the oil and gas producer’s stock worth $26,617,000 after buying an additional 101,371 shares in the last quarter. Finally, Magnus Financial Group LLC raised its position in Enterprise Products Partners by 18.8% during the fourth quarter. Magnus Financial Group LLC now owns 50,837 shares of the oil and gas producer’s stock valued at $1,594,000 after purchasing an additional 8,058 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on EPD shares. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Price Performance

EPD opened at $33.72 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $73.08 billion, a P/E ratio of 12.63, a PEG ratio of 1.61 and a beta of 1.09. The business has a fifty day moving average of $32.28 and a 200 day moving average of $30.33. Enterprise Products Partners L.P. has a 52-week low of $26.12 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.35%. Enterprise Products Partners’s payout ratio is 78.65%.

Enterprise Products Partners Company 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.