World Investment Advisors Acquires 32,940 Shares of Enterprise Products Partners L.P. $EPD

World Investment Advisors lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 63.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,457 shares of the oil and gas producer’s stock after buying an additional 32,940 shares during the quarter. World Investment Advisors’ holdings in Enterprise Products Partners were worth $2,708,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. PMV Capital Advisers LLC bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at $25,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $31,000. Texas Capital Bancshares Inc TX bought a new stake in Enterprise Products Partners during the third quarter worth about $32,000. Daytona Street Capital LLC purchased a new stake in Enterprise Products Partners in the fourth quarter worth about $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $45,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $36.60 on Friday. The stock has a 50-day simple moving average of $37.87 and a two-hundred day simple moving average of $35.81. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market capitalization of $79.12 billion, a PE ratio of 13.56, a P/E/G ratio of 1.30 and a beta of 0.49. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EPD. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group restated a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday. Barclays boosted their price objective on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Truist Financial lifted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Finally, Scotiabank reissued a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and a consensus price target of $39.94.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.