Plan Group Financial LLC Purchases 4,811 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Plan Group Financial LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 15.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,489 shares of the oil and gas producer’s stock after purchasing an additional 4,811 shares during the quarter. Plan Group Financial LLC’s holdings in Enterprise Products Partners were worth $1,144,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Verity & Verity LLC lifted its stake in Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after acquiring an additional 26,032 shares in the last quarter. Spinnaker Trust bought a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $280,000. Paragon Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $2,628,000. FMR LLC lifted its position in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its holdings in Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on EPD shares. Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Citigroup increased their price target on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. 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. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Stock Up 0.7 %

EPD stock opened at $33.69 on Wednesday. Enterprise Products Partners L.P. has a 1-year low of $27.20 and a 1-year high of $34.63. The business’s 50 day simple moving average is $32.55 and its 200 day simple moving average is $30.86. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $73.02 billion, a PE ratio of 12.52, a PEG ratio of 1.54 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 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm 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%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 79.55%.

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.