Kavar Capital Partners Group LLC Acquires Shares of 6,500 Enterprise Products Partners L.P. (NYSE:EPD)

Kavar Capital Partners Group LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,500 shares of the oil and gas producer’s stock, valued at approximately $204,000.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of Enterprise Products Partners by 22.2% in the fourth quarter. Pacer Advisors Inc. now owns 103,655 shares of the oil and gas producer’s stock valued at $3,251,000 after purchasing an additional 18,831 shares during the last quarter. Webster Bank N. A. boosted its holdings in shares of Enterprise Products Partners by 50.0% during the 4th quarter. Webster Bank N. A. now owns 1,500 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 500 shares during the period. Blue Trust Inc. grew its stake in Enterprise Products Partners by 5.5% in the 4th quarter. Blue Trust Inc. now owns 84,121 shares of the oil and gas producer’s stock valued at $2,449,000 after buying an additional 4,418 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in Enterprise Products Partners by 13.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 25,252 shares of the oil and gas producer’s stock valued at $792,000 after acquiring an additional 2,902 shares during the period. Finally, PFG Investments LLC lifted its position in Enterprise Products Partners by 7.4% during the fourth quarter. PFG Investments LLC now owns 136,958 shares of the oil and gas producer’s stock worth $4,295,000 after acquiring an additional 9,455 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $33.59 on Monday. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63. The firm has a market capitalization of $72.81 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.60 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm’s 50 day simple moving average is $32.38 and its 200 day simple moving average is $30.40.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.37%. Enterprise Products Partners’s payout ratio is presently 78.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. 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 report on Wednesday, December 18th. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Truist Financial boosted their target price 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 lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

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.