Independent Advisor Alliance Boosts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Independent Advisor Alliance grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.5% in the 4th quarter, HoldingsChannel reports. The firm owned 138,164 shares of the oil and gas producer’s stock after buying an additional 7,224 shares during the quarter. Independent Advisor Alliance’s holdings in Enterprise Products Partners were worth $4,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EPD. Barclays PLC raised its stake in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after buying an additional 1,326,010 shares in the last quarter. FMR LLC raised 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 acquiring an additional 1,225,988 shares in the last quarter. Merewether Investment Management LP purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $30,746,000. Strategic Financial Concepts LLC boosted its position in Enterprise Products Partners by 3,884.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after purchasing an additional 665,716 shares in the last quarter. Finally, Fisher Funds Management LTD bought a new stake in Enterprise Products Partners during the fourth quarter valued at about $13,599,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EPD has been the subject of several analyst reports. Truist Financial increased their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank lifted 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 report on Thursday, March 6th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Four research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.30.

Enterprise Products Partners Stock Down 1.4 %

Shares of EPD stock opened at $33.18 on Wednesday. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The firm has a market capitalization of $71.85 billion, a PE ratio of 12.33, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock’s 50-day simple moving average is $33.14 and its 200-day simple moving average is $31.33.

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, topping 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 company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date of this dividend was 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 yield of 6.45%. Enterprise Products Partners’s 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.