Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by FourThought Financial Partners LLC

FourThought Financial Partners LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 18.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,532 shares of the oil and gas producer’s stock after purchasing an additional 21,970 shares during the quarter. FourThought Financial Partners LLC’s holdings in Enterprise Products Partners were worth $4,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. IFP Advisors Inc raised its holdings in Enterprise Products Partners by 14.1% in the 4th quarter. IFP Advisors Inc now owns 105,003 shares of the oil and gas producer’s stock valued at $3,293,000 after acquiring an additional 12,998 shares during the last quarter. J. W. Coons Advisors LLC purchased a new stake in Enterprise Products Partners during the 4th quarter worth $210,000. Mainstay Capital Management LLC ADV purchased a new stake in Enterprise Products Partners during the 4th quarter worth $240,000. Capital Advisors Ltd. LLC boosted its position in Enterprise Products Partners by 3.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 9,233 shares of the oil and gas producer’s stock valued at $290,000 after buying an additional 344 shares during the last quarter. Finally, World Equity Group Inc. purchased a new position in Enterprise Products Partners in the 4th quarter valued at about $494,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.9 %

Enterprise Products Partners stock opened at $33.65 on Tuesday. The company has a market capitalization of $72.93 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.37 and a beta of 1.09. The firm’s fifty day simple moving average is $32.67 and its 200-day simple moving average is $30.99. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 1-year low of $27.26 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. Sell-side 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. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.36%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EPD. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial increased their price objective 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. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Four investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.