Strategic Financial Concepts LLC Buys 665,716 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Strategic Financial Concepts LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3,884.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 682,853 shares of the oil and gas producer’s stock after purchasing an additional 665,716 shares during the period. Strategic Financial Concepts LLC’s holdings in Enterprise Products Partners were worth $21,414,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Leo Wealth LLC lifted its holdings in Enterprise Products Partners by 22.4% in the fourth quarter. Leo Wealth LLC now owns 25,796 shares of the oil and gas producer’s stock worth $809,000 after buying an additional 4,717 shares during the period. Consolidated Portfolio Review Corp bought a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $2,706,000. GHP Investment Advisors Inc. lifted its stake in shares of Enterprise Products Partners by 32.5% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 325 shares during the period. Bleakley Financial Group LLC grew its stake in Enterprise Products Partners by 6.6% in the fourth quarter. Bleakley Financial Group LLC now owns 22,111 shares of the oil and gas producer’s stock worth $693,000 after purchasing an additional 1,375 shares during the period. Finally, Inman Jager Wealth Management LLC bought a new position in Enterprise Products Partners in the fourth quarter worth $226,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $32.96 on Friday. 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 company has a 50 day moving average price of $32.52 and a 200-day moving average price of $30.62. Enterprise Products Partners L.P. has a 52 week low of $26.14 and a 52 week high of $34.63. The firm has a market capitalization of $71.45 billion, a PE ratio of 12.35, a P/E/G ratio of 1.54 and a beta of 1.09.

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 for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the firm earned $0.72 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 79.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. 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 report on Wednesday, December 18th. Finally, Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. 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’s stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $34.70.

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.