Parallel Advisors LLC Purchases 4,284 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Parallel Advisors LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,741 shares of the oil and gas producer’s stock after acquiring an additional 4,284 shares during the quarter. Parallel Advisors LLC’s holdings in Enterprise Products Partners were worth $1,466,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EPD. Kayne Anderson Capital Advisors LP grew its holdings in Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the period. Barclays PLC lifted its position in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after buying an additional 1,326,010 shares during the last quarter. FMR LLC boosted its stake in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Merewether Investment Management LP acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $30,746,000. Finally, Strategic Financial Concepts LLC raised its stake in Enterprise Products Partners by 3,884.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after acquiring an additional 665,716 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EPD shares. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley upped their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Scotiabank raised their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Finally, Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.90.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.80 on Wednesday. The company has a market cap of $73.20 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a fifty day moving average price of $33.31 and a 200-day moving average price of $31.48.

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 for the quarter, topping the consensus estimate 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 business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company 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. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.33%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

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.