Concurrent Investment Advisors LLC Acquires 16,139 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Concurrent Investment Advisors LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,654 shares of the oil and gas producer’s stock after buying an additional 16,139 shares during the period. Concurrent Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $4,191,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hardy Reed LLC lifted its holdings in shares of Enterprise Products Partners by 2.2% during the 4th quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer’s stock worth $461,000 after acquiring an additional 310 shares during the period. Mcdaniel Terry & Co. bought a new position in Enterprise Products Partners during the fourth quarter worth about $245,000. Corps Capital Advisors LLC acquired a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $2,592,000. Ieq Capital LLC grew its stake in shares of Enterprise Products Partners by 80.0% in the 4th quarter. Ieq Capital LLC now owns 44,246 shares of the oil and gas producer’s stock valued at $1,388,000 after purchasing an additional 19,667 shares during the period. Finally, Private Wealth Partners LLC raised its holdings in shares of Enterprise Products Partners by 239.0% in the 4th quarter. Private Wealth Partners LLC now owns 69,500 shares of the oil and gas producer’s stock worth $2,180,000 after buying an additional 49,000 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.54 on Friday. 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 $72.69 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.57 and a beta of 1.09. The company has a 50-day simple moving average of $32.60 and a 200 day simple moving average of $30.89. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping 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 analysts’ expectations of $14.07 billion. During the same quarter last year, the business earned $0.72 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.38%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s payout ratio is 79.55%.

Analysts Set New Price Targets

Several research analysts have issued reports on EPD shares. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, 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. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.70.

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.