15,742 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Bought by World Equity Group Inc.

World Equity Group Inc. bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, Holdings Channel.com reports. The fund bought 15,742 shares of the oil and gas producer’s stock, valued at approximately $494,000.

Several other hedge funds also recently bought and sold shares of the company. Delta Financial Group Inc. bought a new position in Enterprise Products Partners in the 4th quarter worth $252,000. MONECO Advisors LLC boosted its holdings in Enterprise Products Partners by 0.7% in the 4th quarter. MONECO Advisors LLC now owns 121,722 shares of the oil and gas producer’s stock worth $3,817,000 after buying an additional 804 shares during the period. Forvis Mazars Wealth Advisors LLC boosted its holdings in Enterprise Products Partners by 34.0% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 19,712 shares of the oil and gas producer’s stock worth $618,000 after buying an additional 5,000 shares during the period. Pekin Hardy Strauss Inc. boosted its holdings in shares of Enterprise Products Partners by 0.3% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 172,418 shares of the oil and gas producer’s stock valued at $5,407,000 after purchasing an additional 600 shares during the last quarter. Finally, Fisher Funds Management LTD bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $13,599,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE EPD opened at $33.41 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm’s 50 day moving average price is $32.63 and its 200-day moving average price is $30.96. 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 cap of $72.41 billion, a PE ratio of 12.42, a P/E/G ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $14.07 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. 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 6.41%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Wall Street Analysts Forecast Growth

Several research firms have commented on EPD. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company downgraded 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. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. 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. Finally, Truist Financial increased their price target 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. Four research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Company 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.