Dynamic Advisor Solutions LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 20.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 80,147 shares of the oil and gas producer’s stock after acquiring an additional 13,568 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Enterprise Products Partners were worth $2,140,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Miller Howard Investments Inc. NY increased its holdings in shares of Enterprise Products Partners by 7.1% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 3,189,590 shares of the oil and gas producer’s stock valued at $87,299,000 after purchasing an additional 210,603 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 8.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after purchasing an additional 3,075 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $3,793,000. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Enterprise Products Partners by 16.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,794,073 shares of the oil and gas producer’s stock valued at $49,104,000 after purchasing an additional 254,175 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Enterprise Products Partners by 2.6% during the 3rd quarter. Deutsche Bank AG now owns 4,884,123 shares of the oil and gas producer’s stock valued at $133,678,000 after acquiring an additional 125,450 shares in the last quarter. Institutional investors and hedge funds own 26.54% of the company’s stock.
Analyst Ratings Changes
EPD has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a report on Tuesday, February 13th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Truist Financial raised their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company raised their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.36.
View Our Latest Stock Analysis on EPD
Enterprise Products Partners Price Performance
EPD opened at $28.99 on Thursday. The company’s 50 day simple moving average is $27.31 and its 200 day simple moving average is $26.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 1 year low of $24.77 and a 1 year high of $29.05. The stock has a market capitalization of $62.86 billion, a PE ratio of 11.50 and a beta of 1.02.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. During the same period last year, the company earned $0.65 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 7.11%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, January 30th. Enterprise Products Partners’s payout ratio is 81.75%.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
See Also
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