Kayne Anderson Capital Advisors LP Acquires 1,947,017 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Kayne Anderson Capital Advisors LP lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 16.7% during the fourth quarter, HoldingsChannel reports. The fund owned 13,588,164 shares of the oil and gas producer’s stock after purchasing an additional 1,947,017 shares during the quarter. Enterprise Products Partners comprises approximately 10.0% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 2nd biggest position. Kayne Anderson Capital Advisors LP’s holdings in Enterprise Products Partners were worth $426,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rosenberg Matthew Hamilton boosted its holdings in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares in the last quarter. Bangor Savings Bank increased 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 acquiring an additional 1,072 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the 4th quarter valued at approximately $40,000. Finally, GHP Investment Advisors Inc. boosted its position in Enterprise Products Partners by 32.5% during the fourth quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 325 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley upped their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday. Truist Financial lifted 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. Finally, Scotiabank raised their target price 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 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.30.

Enterprise Products Partners Trading Down 1.4 %

Shares of EPD opened at $33.18 on Wednesday. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The stock has a market cap of $71.85 billion, a PE ratio of 12.33, a PEG ratio of 1.37 and a beta of 1.08. The stock has a 50 day simple moving average of $33.14 and a 200-day simple moving average of $31.33. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

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 for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio 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.