Crumly & Associates Inc. Buys 592 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Crumly & Associates Inc. boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,490 shares of the oil and gas producer’s stock after purchasing an additional 592 shares during the quarter. Crumly & Associates Inc.’s holdings in Enterprise Products Partners were worth $517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC increased its holdings in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the period. Hamlin Capital Management LLC grew its stake in Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after acquiring an additional 24,335 shares during the period. Brookfield Corp ON grew its stake in Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after acquiring an additional 278,892 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after acquiring an additional 200,625 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $33.54 on Friday. The stock has a 50 day moving average price of $32.60 and a 200 day moving average price of $30.89. Enterprise Products Partners L.P. has a 52 week low of $27.26 and a 52 week high of $34.63. 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 has a market capitalization of $72.69 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.38 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared 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 a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.38%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $34.70.

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.