Pekin Hardy Strauss Inc. Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Pekin Hardy Strauss Inc. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,418 shares of the oil and gas producer’s stock after buying an additional 600 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Enterprise Products Partners were worth $5,407,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EPD. Rosenberg Matthew Hamilton grew its stake in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the last quarter. Assetmark Inc. grew its stake in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners in the third quarter valued at about $36,000. Bangor Savings Bank grew its stake in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EPD shares. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Trading Down 0.5 %

Enterprise Products Partners stock opened at $33.41 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. 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 market capitalization of $72.41 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The stock has a 50-day moving average price of $32.63 and a 200 day moving average price of $30.95.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.41%. Enterprise Products Partners’s payout ratio is 79.55%.

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.