GHP Investment Advisors Inc. Acquires 325 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

GHP Investment Advisors Inc. boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 32.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,325 shares of the oil and gas producer’s stock after purchasing an additional 325 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Enterprise Products Partners were worth $42,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EPD. FMR LLC grew its stake in Enterprise Products Partners by 9.3% during 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 in the last quarter. Pathway Financial Advisers LLC grew its position in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Hamlin Capital Management LLC increased its holdings in shares of Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after purchasing an additional 24,335 shares during the last quarter. Brookfield Corp ON lifted its position in shares of 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 in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Enterprise Products Partners by 5.2% during 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 buying an additional 200,625 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on EPD shares. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. 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 research report on Friday, January 3rd. Four investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $32.96 on Friday. The stock has a 50 day moving average price of $32.52 and a 200 day moving average price of $30.62. The firm has a market capitalization of $71.45 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 52-week low of $26.14 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio 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.