Sagespring Wealth Partners LLC Acquires Shares of 21,063 Enterprise Products Partners L.P. (NYSE:EPD)

Sagespring Wealth Partners LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,063 shares of the oil and gas producer’s stock, valued at approximately $661,000.

Other institutional investors have also recently made changes to their positions in the company. Rosenberg Matthew Hamilton raised its position in 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 purchasing an additional 656 shares during the period. Tidemark LLC raised its holdings in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the fourth quarter worth $30,000. Finally, National Bank of Canada FI increased its position in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 360 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $30.28 on Tuesday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The stock’s fifty day moving average price is $32.79 and its 200-day moving average price is $31.87. The firm has a market cap of $65.58 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.37 and a beta of 0.78. 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 posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate 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 business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 7.07%. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EPD. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. Scotiabank boosted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Morgan Stanley boosted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Company 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.