Exchange Traded Concepts LLC Purchases 13,209 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Exchange Traded Concepts LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 821,363 shares of the oil and gas producer’s stock after purchasing an additional 13,209 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Enterprise Products Partners were worth $25,758,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. RFG Advisory LLC lifted its holdings in Enterprise Products Partners by 199.4% during the 4th quarter. RFG Advisory LLC now owns 20,704 shares of the oil and gas producer’s stock worth $649,000 after buying an additional 13,788 shares during the period. Silver Lake Advisory LLC boosted its holdings in Enterprise Products Partners by 1.4% in the fourth quarter. Silver Lake Advisory LLC now owns 47,524 shares of the oil and gas producer’s stock valued at $1,490,000 after acquiring an additional 672 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in Enterprise Products Partners by 3.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 22,978 shares of the oil and gas producer’s stock valued at $721,000 after purchasing an additional 760 shares during the period. Brighton Jones LLC raised its holdings in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after purchasing an additional 5,425 shares during the last quarter. Finally, Veracity Capital LLC lifted its position in shares of Enterprise Products Partners by 1.4% in the 4th quarter. Veracity Capital LLC now owns 40,231 shares of the oil and gas producer’s stock worth $1,262,000 after purchasing an additional 575 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.2 %

EPD opened at $33.74 on Friday. The firm has a market capitalization of $73.12 billion, a PE ratio of 12.64, a P/E/G ratio of 1.60 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The company’s 50-day moving average is $32.28 and its 200 day moving average is $30.33.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Four investment 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 stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.60.

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.