CreativeOne Wealth LLC Grows Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

CreativeOne Wealth LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 139.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,799 shares of the oil and gas producer’s stock after acquiring an additional 23,178 shares during the quarter. CreativeOne Wealth LLC’s holdings in Enterprise Products Partners were worth $1,248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fiducient Advisors LLC raised its position in Enterprise Products Partners by 37.3% during the 4th quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer’s stock valued at $2,428,000 after purchasing an additional 21,025 shares in the last quarter. Savvy Advisors Inc. increased its stake in shares of Enterprise Products Partners by 17.9% during the fourth quarter. Savvy Advisors Inc. now owns 10,250 shares of the oil and gas producer’s stock valued at $321,000 after buying an additional 1,558 shares during the period. TT Capital Management LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $759,000. RE Dickinson Investment Advisors LLC lifted its stake in Enterprise Products Partners by 15.9% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 8,374 shares of the oil and gas producer’s stock worth $263,000 after acquiring an additional 1,151 shares during the period. Finally, Sagespring Wealth Partners LLC bought a new position in Enterprise Products Partners during the 4th quarter worth about $661,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EPD. Barclays upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Truist Financial increased their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Trading Down 1.7 %

NYSE:EPD opened at $30.39 on Thursday. The firm has a fifty day simple moving average of $32.70 and a 200-day simple moving average of $31.85. The company has a market capitalization of $65.82 billion, a P/E ratio of 11.30, a PEG ratio of 1.37 and a beta of 0.78. 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 current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 7.04%. Enterprise Products Partners’s payout ratio is currently 79.55%.

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.