Chesley Taft & Associates LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Chesley Taft & Associates LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 50.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,600 shares of the oil and gas producer’s stock after purchasing an additional 6,600 shares during the period. Chesley Taft & Associates LLC’s holdings in Enterprise Products Partners were worth $615,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Koshinski Asset Management Inc. purchased a new stake in Enterprise Products Partners during the fourth quarter valued at about $228,000. FLC Capital Advisors lifted its stake in shares of Enterprise Products Partners by 4.7% in the 4th quarter. FLC Capital Advisors now owns 117,160 shares of the oil and gas producer’s stock valued at $3,674,000 after purchasing an additional 5,300 shares in the last quarter. Smart Money Group LLC grew its holdings in shares of Enterprise Products Partners by 20.1% during the 4th quarter. Smart Money Group LLC now owns 38,890 shares of the oil and gas producer’s stock worth $1,220,000 after purchasing an additional 6,500 shares during the period. Ellsworth Advisors LLC increased its position in Enterprise Products Partners by 1.7% during the 4th quarter. Ellsworth Advisors LLC now owns 23,022 shares of the oil and gas producer’s stock worth $722,000 after purchasing an additional 380 shares in the last quarter. Finally, Evanson Asset Management LLC raised its holdings in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 306 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 1.7 %

Enterprise Products Partners stock opened at $34.15 on Wednesday. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63. The firm’s 50 day moving average price is $32.13 and its two-hundred day moving average price is $30.27. The firm has a market cap of $74.02 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.58 and a beta of 1.09. 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 announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.27%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EPD shares. Wells Fargo & Company lowered 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 research report on Wednesday, December 18th. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.60.

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.