Parallel Advisors LLC Has $1.47 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Parallel Advisors LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 46,741 shares of the oil and gas producer’s stock after acquiring an additional 4,284 shares during the period. Parallel Advisors LLC’s holdings in Enterprise Products Partners were worth $1,466,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. increased its holdings 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. Caprock Group LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth about $1,943,000. Tranquility Partners LLC increased its stake in shares of Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after acquiring an additional 346 shares during the last quarter. BIP Wealth LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $614,000. Finally, Avior Wealth Management LLC raised its position in shares of Enterprise Products Partners by 46.2% in the 3rd quarter. Avior Wealth Management LLC now owns 17,409 shares of the oil and gas producer’s stock valued at $507,000 after acquiring an additional 5,500 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.4 %

NYSE:EPD opened at $33.80 on Wednesday. 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 twelve month low of $27.37 and a twelve month high of $34.63. The company has a market cap of $73.20 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The business has a 50 day moving average price of $33.31 and a two-hundred day moving average price of $31.48.

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 analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors 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 6.33%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 79.55%.

Analysts Set New Price Targets

Several brokerages have commented on EPD. Scotiabank upped their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.90.

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.