Callahan Advisors LLC Purchases 21,602 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Callahan Advisors LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 34.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,836 shares of the oil and gas producer’s stock after acquiring an additional 21,602 shares during the quarter. Callahan Advisors LLC’s holdings in Enterprise Products Partners were worth $2,629,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EPD. Pathway Financial Advisers LLC boosted its position in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares in the last quarter. Barclays PLC boosted its position in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares in the last quarter. FMR LLC boosted its position in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP bought a new stake in shares of Enterprise Products Partners in the 3rd quarter worth approximately $30,746,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 0.9 %

NYSE:EPD opened at $33.52 on Tuesday. 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 firm has a market capitalization of $72.65 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a one year low of $26.64 and a one year high of $34.63. The business has a fifty day moving average price of $32.53 and a 200-day moving average price of $30.82.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.39%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of analyst reports. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Citigroup upped their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Four 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.70.

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.