Carnegie Lake Advisors LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Carnegie Lake Advisors LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,000 shares of the oil and gas producer’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. Rosenberg Matthew Hamilton increased its position in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners during the 3rd quarter valued at $36,000. Finally, Bangor Savings Bank lifted its holdings in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 0.8 %

Shares of EPD stock opened at $33.19 on Tuesday. 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 simple moving average of $32.50 and a two-hundred day simple moving average of $30.66. The firm has a market capitalization of $71.93 billion, a PE ratio of 12.34, a PEG ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a 52-week low of $26.31 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the business posted $0.72 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.45%. The ex-dividend date 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 79.55%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EPD. Scotiabank began coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Citigroup increased their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

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.