Principle Wealth Partners LLC Buys 565 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Principle Wealth Partners LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,211 shares of the oil and gas producer’s stock after acquiring an additional 565 shares during the period. Principle Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $289,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CWM LLC grew its holdings in shares of Enterprise Products Partners by 8.4% during the third quarter. CWM LLC now owns 72,044 shares of the oil and gas producer’s stock worth $2,097,000 after purchasing an additional 5,590 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Enterprise Products Partners by 438.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,864 shares of the oil and gas producer’s stock worth $83,000 after purchasing an additional 2,332 shares during the last quarter. Empirical Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 2.8% during the third quarter. Empirical Asset Management LLC now owns 16,491 shares of the oil and gas producer’s stock worth $480,000 after purchasing an additional 450 shares during the last quarter. Keystone Wealth Services LLC bought a new stake in shares of Enterprise Products Partners during the third quarter worth $419,000. Finally, Magnus Financial Group LLC grew its holdings in shares of Enterprise Products Partners by 5.9% during the third quarter. Magnus Financial Group LLC now owns 42,779 shares of the oil and gas producer’s stock worth $1,245,000 after purchasing an additional 2,390 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Citigroup raised their price target on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Finally, Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Trading Up 0.3 %

NYSE:EPD opened at $33.24 on Wednesday. Enterprise Products Partners L.P. has a 1-year low of $26.31 and a 1-year high of $34.63. The business’s 50-day moving average price is $32.48 and its two-hundred day moving average price is $30.68. 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 has a market capitalization of $72.04 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share 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 for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.44%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) 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.