Applied Capital LLC FL Raises Position in Enterprise Products Partners L.P. (NYSE:EPD)

Applied Capital LLC FL increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,945 shares of the oil and gas producer’s stock after buying an additional 1,650 shares during the quarter. Enterprise Products Partners accounts for about 1.5% of Applied Capital LLC FL’s portfolio, making the stock its 25th largest position. Applied Capital LLC FL’s holdings in Enterprise Products Partners were worth $1,974,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC lifted its stake in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares during the period. Barclays PLC lifted its position in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares during the period. International Assets Investment Management LLC grew its stake in Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. FMR LLC increased its holdings in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP purchased a new position in shares of Enterprise Products Partners in the third quarter worth about $30,746,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.2 %

Shares of EPD stock opened at $33.59 on Friday. The stock has a 50 day simple moving average of $32.38 and a 200-day simple moving average of $30.39. Enterprise Products Partners L.P. has a 1-year low of $26.12 and a 1-year high of $34.63. The company has a market cap of $72.81 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.60 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced 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. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

Analyst Ratings Changes

EPD has been the topic of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Scotiabank began coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

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.