Hardy Reed LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,710 shares of the oil and gas producer’s stock after purchasing an additional 310 shares during the period. Hardy Reed LLC’s holdings in Enterprise Products Partners were worth $461,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Enterprise Products Partners by 84.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 44,690 shares of the oil and gas producer’s stock worth $1,301,000 after acquiring an additional 20,475 shares in the last quarter. Eastern Bank purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $63,000. Symphony Financial Ltd. Co. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $201,000. Private Advisor Group LLC raised its holdings in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 377,263 shares of the oil and gas producer’s stock worth $10,982,000 after acquiring an additional 13,890 shares in the last quarter. Finally, Albert D Mason Inc. raised its holdings in shares of Enterprise Products Partners by 2.6% during the 3rd quarter. Albert D Mason Inc. now owns 38,886 shares of the oil and gas producer’s stock worth $1,132,000 after acquiring an additional 1,001 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
EPD has been the topic of several recent research reports. Scotiabank initiated coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Royal Bank of Canada reissued 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, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four investment 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 stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.
Enterprise Products Partners Stock Performance
EPD stock opened at $33.62 on Thursday. 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 business’s fifty day simple moving average is $32.58 and its two-hundred day simple moving average is $30.88. Enterprise Products Partners L.P. has a twelve month low of $27.20 and a twelve month high of $34.63. The firm has a market cap of $72.86 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.57 and a beta of 1.09.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Analysts predict that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.
Enterprise Products Partners Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 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.
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