Private Advisor Group LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Private Advisor Group LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 390,235 shares of the oil and gas producer’s stock after acquiring an additional 12,972 shares during the quarter. Private Advisor Group LLC’s holdings in Enterprise Products Partners were worth $12,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Trust Co. of Vermont increased its stake in Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 300 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in Enterprise Products Partners by 0.8% during the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after buying an additional 305 shares during the period. Evanson Asset Management LLC lifted its position in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after buying an additional 306 shares during the last quarter. Sandbox Financial Partners LLC boosted its stake in Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after buying an additional 309 shares during the period. Finally, Guyasuta Investment Advisors Inc. increased its position in Enterprise Products Partners by 1.1% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 29,800 shares of the oil and gas producer’s stock valued at $935,000 after acquiring an additional 322 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $33.54 on Friday. The firm has a 50 day moving average of $32.60 and a 200 day moving average of $30.89. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $72.69 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. Enterprise Products Partners L.P. has a 52 week low of $27.26 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. On average, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.38%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 79.55%.

Analysts Set New Price Targets

A number of research firms recently commented on EPD. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wells Fargo & Company cut 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 note on Wednesday, December 18th. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Citigroup upped their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. 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 company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Company 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.