Enhancing Capital LLC Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Enhancing Capital LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,960 shares of the oil and gas producer’s stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Generali Asset Management SPA SGR acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $122,000. Evoke Wealth LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $226,000. Advisors Asset Management Inc. lifted its position in Enterprise Products Partners by 48.5% during the 4th quarter. Advisors Asset Management Inc. now owns 123,069 shares of the oil and gas producer’s stock worth $3,859,000 after acquiring an additional 40,198 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in Enterprise Products Partners by 2.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 14,346 shares of the oil and gas producer’s stock worth $450,000 after acquiring an additional 325 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in Enterprise Products Partners by 26.2% during the 4th quarter. Tocqueville Asset Management L.P. now owns 22,959 shares of the oil and gas producer’s stock worth $720,000 after acquiring an additional 4,772 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EPD. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley lifted their price objective 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. Truist Financial lifted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Barclays lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, 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 report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.90.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $33.80 on Wednesday. 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 current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $73.20 billion, a price-to-earnings 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 simple moving average of $33.31 and a 200-day simple moving average of $31.48.

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

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 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.