Mills Wealth Advisors LLC Makes New $291,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Mills Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,279 shares of the oil and gas producer’s stock, valued at approximately $291,000.

A number of other institutional investors have also recently made changes to their positions in EPD. FMR LLC raised its stake 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 worth $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Brookfield Corp ON raised its position in Enterprise Products Partners by 6.2% in the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after buying an additional 278,892 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after acquiring an additional 200,625 shares during the period. Stifel Financial Corp boosted its holdings in shares of Enterprise Products Partners by 0.3% during the 3rd quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock valued at $101,032,000 after acquiring an additional 9,257 shares during the last quarter. Finally, Miller Howard Investments Inc. NY grew its stake in shares of Enterprise Products Partners by 5.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock worth $100,646,000 after acquiring an additional 153,083 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EPD shares. Wells Fargo & Company downgraded 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. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Finally, Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Trading Down 0.9 %

Shares of EPD opened at $32.85 on Friday. The firm has a market cap of $71.19 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.37 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 L.P. has a 1 year low of $27.26 and a 1 year high of $34.63. The company has a 50 day simple moving average of $32.80 and a two-hundred day simple moving average of $31.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The business’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. 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 6.52%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.