Enterprise Products Partners L.P. (NYSE:EPD) is Meixler Investment Management Ltd.’s 10th Largest Position

Meixler Investment Management Ltd. lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 85,450 shares of the oil and gas producer’s stock after buying an additional 10,675 shares during the quarter. Enterprise Products Partners accounts for approximately 2.0% of Meixler Investment Management Ltd.’s holdings, making the stock its 10th largest position. Meixler Investment Management Ltd.’s holdings in Enterprise Products Partners were worth $2,680,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rosenberg Matthew Hamilton grew its holdings in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners during the third quarter worth about $36,000. Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $40,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.9 %

EPD opened at $33.52 on Friday. The stock has a market capitalization of $72.65 billion, a PE ratio of 12.46, a P/E/G ratio of 1.54 and a beta of 1.09. The firm’s fifty day moving average price is $32.50 and its 200 day moving average price is $30.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 12-month low of $26.64 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company posted $0.72 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.535 dividend. 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 dividend yield of 6.39%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analyst Ratings Changes

EPD has been the subject of a number of recent analyst reports. US Capital Advisors upgraded 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 restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Finally, Citigroup lifted their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

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.