Claris Advisors LLC MO Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Claris Advisors LLC MO increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1,471.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,000 shares of the oil and gas producer’s stock after buying an additional 10,300 shares during the quarter. Claris Advisors LLC MO’s holdings in Enterprise Products Partners were worth $345,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Clare Market Investments LLC purchased a new stake in Enterprise Products Partners during the 4th quarter valued at about $440,000. Independent Advisor Alliance lifted its holdings in shares of Enterprise Products Partners by 5.5% during the fourth quarter. Independent Advisor Alliance now owns 138,164 shares of the oil and gas producer’s stock worth $4,333,000 after purchasing an additional 7,224 shares during the period. Meriwether Wealth & Planning LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $696,000. Objectivity Squared LLC increased its holdings in Enterprise Products Partners by 2.7% in the 4th quarter. Objectivity Squared LLC now owns 43,738 shares of the oil and gas producer’s stock worth $1,407,000 after buying an additional 1,167 shares during the period. Finally, Sound View Wealth Advisors Group LLC raised its position in Enterprise Products Partners by 0.8% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 252,162 shares of the oil and gas producer’s stock worth $7,908,000 after buying an additional 1,900 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial upped 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. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Finally, Scotiabank boosted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.90.

Enterprise Products Partners Stock Up 0.6 %

Shares of EPD opened at $33.66 on Tuesday. 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 firm has a market cap of $72.89 billion, a P/E ratio of 12.51, a PEG ratio of 1.37 and a beta of 1.08. The stock’s 50 day moving average is $33.11 and its two-hundred day moving average is $31.30. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63.

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

Enterprise Products Partners Increases Dividend

The business also recently announced 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 of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.36%. This is a boost 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.