Van ECK Associates Corp Acquires 2,881 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Van ECK Associates Corp raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,145 shares of the oil and gas producer’s stock after purchasing an additional 2,881 shares during the period. Van ECK Associates Corp’s holdings in Enterprise Products Partners were worth $2,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Alps Advisors Inc. raised its position in Enterprise Products Partners by 20.2% during the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares during the last quarter. Blackstone Inc. raised its position in Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares during the last quarter. American Century Companies Inc. raised its position in Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after purchasing an additional 2,155,640 shares during the last quarter. International Assets Investment Management LLC raised its position in Enterprise Products Partners by 2,436.1% during the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after purchasing an additional 1,125,117 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Enterprise Products Partners by 121.9% in the 3rd quarter. Barclays PLC now owns 2,018,667 shares of the oil and gas producer’s stock worth $55,251,000 after acquiring an additional 1,108,840 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $28.35 on Wednesday. The business’s fifty day simple moving average is $28.68 and its two-hundred day simple moving average is $27.36. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99. The company has a market cap of $61.47 billion, a price-to-earnings ratio of 11.12 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same period last year, the business posted $0.64 EPS. The company’s revenue was up 18.6% compared to the same quarter last year. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.27%. Enterprise Products Partners’s dividend payout ratio is 80.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EPD. Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Truist Financial increased their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Stifel Nicolaus increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays increased their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Finally, Wells Fargo & Company increased their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average price target of $32.75.

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.