Paragon Capital Management Ltd Acquires Shares of 15,000 Enterprise Products Partners L.P. (NYSE:EPD)

Paragon Capital Management Ltd acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 15,000 shares of the oil and gas producer’s stock, valued at approximately $470,000.

A number of other large investors also recently bought and sold shares of EPD. Sendero Wealth Management LLC grew its stake in shares of Enterprise Products Partners by 54.4% during the 4th quarter. Sendero Wealth Management LLC now owns 14,195 shares of the oil and gas producer’s stock worth $445,000 after purchasing an additional 5,000 shares during the period. Armstrong Advisory Group Inc. grew its stake in Enterprise Products Partners by 4.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 8,161 shares of the oil and gas producer’s stock valued at $256,000 after acquiring an additional 329 shares during the last quarter. ARS Wealth Advisors Group LLC grew its stake in Enterprise Products Partners by 16.1% in the 4th quarter. ARS Wealth Advisors Group LLC now owns 8,149 shares of the oil and gas producer’s stock valued at $256,000 after acquiring an additional 1,130 shares during the last quarter. Burney Co. boosted its stake in shares of Enterprise Products Partners by 25.6% during the 4th quarter. Burney Co. now owns 15,626 shares of the oil and gas producer’s stock worth $490,000 after purchasing an additional 3,186 shares during the last quarter. Finally, R.H. Investment Group LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter worth about $376,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $33.31 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $31.87 and its two-hundred day moving average price is $30.15. Enterprise Products Partners L.P. has a 52 week low of $26.12 and a 52 week high of $34.63. The stock has a market cap of $72.20 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.42%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Analyst Upgrades and Downgrades

EPD has been the topic of several research reports. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Scotiabank assumed 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, Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

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.