Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Cascade Financial Partners LLC

Cascade Financial Partners LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 36,735 shares of the oil and gas producer’s stock after buying an additional 926 shares during the quarter. Cascade Financial Partners LLC’s holdings in Enterprise Products Partners were worth $1,152,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Trust Co. of Vermont lifted its stake in shares of Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 300 shares during the period. Griffin Asset Management Inc. lifted its stake in shares of Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after buying an additional 305 shares during the period. Evanson Asset Management LLC lifted its stake in Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after purchasing an additional 306 shares during the period. Smartleaf Asset Management LLC lifted its stake in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after purchasing an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC lifted its stake in Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 309 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.18 on Wednesday. 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 cap of $71.85 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.37 and a beta of 1.08. The firm has a 50 day simple moving average of $33.14 and a 200 day simple moving average of $31.33. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 79.55%.

Analysts Set New Price Targets

A number of brokerages have commented on EPD. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Scotiabank raised their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Morgan Stanley raised their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.30.

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.