Armstrong Advisory Group Inc. Purchases 329 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Armstrong Advisory Group Inc. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,161 shares of the oil and gas producer’s stock after purchasing an additional 329 shares during the period. Armstrong Advisory Group Inc.’s holdings in Enterprise Products Partners were worth $256,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EPD. ARS Wealth Advisors Group LLC lifted its position in shares of Enterprise Products Partners by 16.1% in the fourth quarter. ARS Wealth Advisors Group LLC now owns 8,149 shares of the oil and gas producer’s stock valued at $256,000 after acquiring an additional 1,130 shares in the last quarter. Burney Co. raised its stake in Enterprise Products Partners by 25.6% during the 4th quarter. Burney Co. now owns 15,626 shares of the oil and gas producer’s stock valued at $490,000 after purchasing an additional 3,186 shares during the period. R.H. Investment Group LLC purchased a new position in Enterprise Products Partners in the 4th quarter worth approximately $376,000. Sovereign Financial Group Inc. boosted its stake in Enterprise Products Partners by 35.6% in the 4th quarter. Sovereign Financial Group Inc. now owns 14,467 shares of the oil and gas producer’s stock worth $454,000 after purchasing an additional 3,800 shares during the period. Finally, 180 Wealth Advisors LLC grew its holdings in Enterprise Products Partners by 164.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 21,784 shares of the oil and gas producer’s stock valued at $683,000 after buying an additional 13,561 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.31 on Thursday. The firm has a market capitalization of $72.20 billion, a PE ratio of 12.48, a PEG ratio of 1.66 and a beta of 1.09. The stock’s fifty day moving average is $31.87 and its 200 day moving average is $30.15. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 80.15%.

Analyst Ratings Changes

EPD has been the subject of a number of research reports. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America started 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. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $34.60.

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.