Klingenstein Fields & Co. LP Acquires New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Klingenstein Fields & Co. LP acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,468 shares of the oil and gas producer’s stock, valued at approximately $203,000.

Other institutional investors have also made changes to their positions in the company. Rosenberg Matthew Hamilton increased its position in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares during the period. DiNuzzo Private Wealth Inc. increased its position in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. increased its position in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners in the 3rd quarter worth approximately $36,000. Finally, Bangor Savings Bank increased its position in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares during the period. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 0.9 %

NYSE EPD opened at $33.22 on Friday. The firm has a market cap of $72.00 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.54 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. The stock’s 50-day moving average is $32.48 and its 200-day moving average is $30.72. Enterprise Products Partners L.P. has a one year low of $26.49 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The company 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 was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This is an increase 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 6.44%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analyst Weigh In

Several research analysts have commented on EPD shares. Truist Financial lifted their price target 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. Wells Fargo & Company lowered 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. Citigroup lifted their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Scotiabank assumed coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four research 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.