Allworth Financial LP Buys 19,400 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Allworth Financial LP lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 74.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,366 shares of the oil and gas producer’s stock after acquiring an additional 19,400 shares during the period. Allworth Financial LP’s holdings in Enterprise Products Partners were worth $1,533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 3.9% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 18,602 shares of the oil and gas producer’s stock worth $542,000 after buying an additional 692 shares during the period. Commonwealth Equity Services LLC lifted its position in Enterprise Products Partners by 3.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,064,093 shares of the oil and gas producer’s stock worth $30,976,000 after acquiring an additional 33,228 shares during the last quarter. Bayshore Asset Management LLC bought a new stake in Enterprise Products Partners during the third quarter valued at about $240,000. Foundations Investment Advisors LLC grew its position in shares of Enterprise Products Partners by 262.1% in the third quarter. Foundations Investment Advisors LLC now owns 275,058 shares of the oil and gas producer’s stock valued at $8,007,000 after purchasing an additional 199,098 shares during the last quarter. Finally, Mattern Wealth Management LLC increased its stake in shares of Enterprise Products Partners by 9.4% in the third quarter. Mattern Wealth Management LLC now owns 9,325 shares of the oil and gas producer’s stock worth $271,000 after purchasing an additional 800 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $33.69 on Wednesday. The stock has a market cap of $73.02 billion, a P/E ratio of 12.52, a PEG ratio of 1.54 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a twelve month low of $27.20 and a twelve month high of $34.63. The company’s 50-day simple moving average is $32.53 and its 200 day simple moving average is $30.82.

Enterprise Products Partners (NYSE:EPD) last issued 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. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.87 earnings per share 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. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EPD. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank began coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective on the stock. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Citigroup increased their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners 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.