Meriwether Wealth & Planning LLC Purchases Shares of 22,178 Enterprise Products Partners L.P. (NYSE:EPD)

Meriwether Wealth & Planning LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 22,178 shares of the oil and gas producer’s stock, valued at approximately $696,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Van ECK Associates Corp raised its position in Enterprise Products Partners by 12.2% during the 3rd quarter. Van ECK Associates Corp now owns 84,939 shares of the oil and gas producer’s stock valued at $2,461,000 after purchasing an additional 9,209 shares during the last quarter. Leavell Investment Management Inc. grew its holdings in shares of Enterprise Products Partners by 6.0% during the 3rd quarter. Leavell Investment Management Inc. now owns 68,980 shares of the oil and gas producer’s stock worth $2,008,000 after acquiring an additional 3,891 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $843,000. Verdence Capital Advisors LLC grew its holdings in shares of Enterprise Products Partners by 21.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 10,784 shares of the oil and gas producer’s stock worth $314,000 after acquiring an additional 1,910 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the topic of a number of research analyst reports. 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 report on Wednesday, December 18th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank upped their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Truist Financial upped 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. 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. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.90.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $33.43 on Monday. The business’s fifty day simple moving average is $33.06 and its two-hundred day simple moving average is $31.27. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The company has a market cap of $72.40 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its 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 business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the business posted $0.72 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.40%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

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.