IFP Advisors Inc Buys 12,998 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

IFP Advisors Inc boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,003 shares of the oil and gas producer’s stock after purchasing an additional 12,998 shares during the period. IFP Advisors Inc’s holdings in Enterprise Products Partners were worth $3,293,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Verity & Verity LLC grew its stake in shares of Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after buying an additional 26,032 shares in the last quarter. Spinnaker Trust acquired a new stake in Enterprise Products Partners in the fourth quarter valued at $280,000. Paragon Advisors LLC bought a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $2,628,000. FMR LLC increased its stake in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its stake in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank started coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Four equities research 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 company. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Trading Up 0.9 %

EPD stock opened at $33.65 on Tuesday. Enterprise Products Partners L.P. has a 52 week low of $27.26 and a 52 week high of $34.63. The company has a market capitalization of $72.93 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company’s 50-day simple moving average is $32.67 and its 200 day simple moving average is $30.99. 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 (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend was Friday, January 31st. 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 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.