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

Bleakley Financial Group LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,111 shares of the oil and gas producer’s stock after buying an additional 1,375 shares during the quarter. Bleakley Financial Group LLC’s holdings in Enterprise Products Partners were worth $693,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. CWM LLC grew its stake in Enterprise Products Partners by 8.4% during the 3rd quarter. CWM LLC now owns 72,044 shares of the oil and gas producer’s stock valued at $2,097,000 after purchasing an additional 5,590 shares in the last quarter. LongView Wealth Management purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $229,000. Valeo Financial Advisors LLC grew its position in shares of Enterprise Products Partners by 5.5% during the third quarter. Valeo Financial Advisors LLC now owns 105,033 shares of the oil and gas producer’s stock worth $3,058,000 after buying an additional 5,482 shares in the last quarter. Lion Street Advisors LLC increased its stake in shares of Enterprise Products Partners by 5.6% in the third quarter. Lion Street Advisors LLC now owns 11,201 shares of the oil and gas producer’s stock worth $326,000 after buying an additional 596 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Enterprise Products Partners by 3.3% in the third quarter. Exchange Traded Concepts LLC now owns 808,154 shares of the oil and gas producer’s stock valued at $23,525,000 after acquiring an additional 26,063 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

EPD stock opened at $32.96 on Monday. The stock’s fifty day moving average is $32.50 and its two-hundred day moving average is $30.65. The stock has a market capitalization of $71.45 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.54 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 L.P. has a 1 year low of $26.14 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results 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 during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the business posted $0.72 EPS. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.49%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EPD. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank initiated coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.