SVB Wealth LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

SVB Wealth LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 9,806 shares of the oil and gas producer’s stock, valued at approximately $308,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Rosenberg Matthew Hamilton raised its stake in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares in the last quarter. Assetmark Inc. raised its stake in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth about $36,000. Bangor Savings Bank raised its stake in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $40,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $33.18 on Thursday. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The firm has a market capitalization of $71.85 billion, a PE ratio of 12.33, a PEG ratio of 1.37 and a beta of 1.08. The business’s 50 day moving average is $32.98 and its 200-day moving average is $31.20. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results 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. The business 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Wells Fargo & Company downgraded 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 note on Wednesday, December 18th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Scotiabank started coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective on the stock. Four investment 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.