Sowell Financial Services LLC Has $2.36 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sowell Financial Services LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 15.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 75,369 shares of the oil and gas producer’s stock after purchasing an additional 10,064 shares during the quarter. Sowell Financial Services LLC’s holdings in Enterprise Products Partners were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in 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 valued at $420,037,000 after acquiring an additional 1,225,988 shares during the last quarter. Brookfield Corp ON lifted its stake in Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after acquiring an additional 278,892 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after acquiring an additional 200,625 shares during the last quarter. Stifel Financial Corp lifted its stake in Enterprise Products Partners by 0.3% in the third quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock valued at $101,032,000 after acquiring an additional 9,257 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its stake in Enterprise Products Partners by 5.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock valued at $100,646,000 after acquiring an additional 153,083 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.43 on Monday. The firm has a market capitalization of $72.40 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The firm has a fifty day simple moving average of $33.06 and a two-hundred day simple moving average of $31.27. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. 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 6.40%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s payout ratio is 79.55%.

Analyst Ratings Changes

Several brokerages have recently weighed in on EPD. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Scotiabank increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Truist Financial increased their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $34.90.

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.