Vertex Planning Partners LLC Makes New $217,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Vertex Planning Partners LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, Holdings Channel reports. The firm acquired 6,925 shares of the oil and gas producer’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its position 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 purchasing an additional 1,225,988 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after acquiring an additional 1,947,017 shares during the last quarter. Brookfield Corp ON increased its position 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 worth $138,639,000 after buying an additional 278,892 shares during the last quarter. Stifel Financial Corp raised its stake in Enterprise Products Partners by 0.3% in the 3rd 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 period. Finally, LPL Financial LLC boosted its holdings in shares of Enterprise Products Partners by 10.7% in the fourth quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock worth $104,310,000 after acquiring an additional 321,145 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EPD shares. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday. Barclays boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Truist Financial upped 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 note on Friday, January 3rd. JPMorgan Chase & Co. lifted their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Scotiabank raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.60.

Enterprise Products Partners Stock Up 0.3 %

Shares of EPD opened at $33.96 on Friday. The stock’s 50-day moving average price is $33.45 and its 200-day moving average price is $31.67. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $73.54 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 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 paid a $0.535 dividend. The ex-dividend date 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 dividend yield of 6.30%. Enterprise Products Partners’s payout ratio is presently 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.