LPL Financial LLC Has $104.31 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

LPL Financial LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 10.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,326,224 shares of the oil and gas producer’s stock after purchasing an additional 321,145 shares during the period. LPL Financial LLC’s holdings in Enterprise Products Partners were worth $104,310,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EPD. Rosenberg Matthew Hamilton lifted its holdings 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 buying an additional 656 shares during the period. Tidemark LLC lifted its stake in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $29,000. Bangor Savings Bank grew its stake in Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new stake in Enterprise Products Partners in the fourth quarter worth approximately $40,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.51 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average price of $33.43 and a 200-day moving average price of $31.64. The company has a market cap of $72.57 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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 business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the business earned $0.72 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared 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. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.39%. Enterprise Products Partners’s payout ratio is 79.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EPD shares. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Barclays increased their price objective 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. Wells Fargo & Company lowered 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 report on Wednesday, December 18th. Finally, Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Four equities research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.