Edgemoor Investment Advisors Inc. Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Edgemoor Investment Advisors Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 309,426 shares of the oil and gas producer’s stock after purchasing an additional 2,181 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Enterprise Products Partners were worth $9,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPD. Assetmark Inc. lifted its position 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. Aptus Capital Advisors LLC bought a new stake in Enterprise Products Partners in the third quarter valued at approximately $240,000. Oppenheimer Asset Management Inc. lifted its position in Enterprise Products Partners by 11.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 71,474 shares of the oil and gas producer’s stock valued at $2,081,000 after purchasing an additional 7,536 shares during the last quarter. Empowered Funds LLC lifted its position in Enterprise Products Partners by 14.1% in the third quarter. Empowered Funds LLC now owns 181,654 shares of the oil and gas producer’s stock valued at $5,288,000 after purchasing an additional 22,506 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC bought a new stake in Enterprise Products Partners in the third quarter valued at approximately $670,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.54 on Monday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 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 business has a fifty day simple moving average of $33.23 and a two-hundred day simple moving average of $31.41. The firm has a market capitalization of $72.63 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results 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 firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the company earned $0.72 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This is an increase 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%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analyst Weigh In

EPD has been the subject of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Scotiabank upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Barclays upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday. Four 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.