Private Advisor Group LLC Grows Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Private Advisor Group LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 390,235 shares of the oil and gas producer’s stock after acquiring an additional 12,972 shares during the period. Private Advisor Group LLC’s holdings in Enterprise Products Partners were worth $12,238,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Rosenberg Matthew Hamilton grew its holdings in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the last quarter. Assetmark Inc. lifted its position in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners during the 3rd quarter valued at about $36,000. Bangor Savings Bank increased its holdings in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent research reports. Truist Financial upped their target price 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. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Citigroup raised their target price on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Finally, Wells Fargo & Company lowered 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 note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $33.54 on Friday. The firm has a market cap of $72.69 billion, a PE ratio of 12.47, a P/E/G ratio of 1.57 and a beta of 1.09. The business has a 50-day moving average price of $32.60 and a 200 day moving average price of $30.89. 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 $27.26 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. 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. This represents a $2.14 dividend on an annualized basis and a yield of 6.38%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.