Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 23.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,772 shares of the oil and gas producer’s stock after purchasing an additional 2,616 shares during the period. NewEdge Wealth LLC’s holdings in Enterprise Products Partners were worth $363,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of EPD. Fairfield Bush & CO. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $26,000. Pacific Center for Financial Services acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $27,000. Financial Freedom LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $38,000. Rational Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $43,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $48,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Truist Financial boosted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, Barclays boosted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Price Performance

EPD opened at $28.40 on Thursday. The firm has a market cap of $61.57 billion, a price-to-earnings ratio of 11.27 and a beta of 1.02. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The company’s 50-day moving average price is $28.27 and its 200 day moving average price is $27.24. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.62 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.25%. Enterprise Products Partners’s payout ratio is currently 81.75%.

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.