HBW Advisory Services LLC Boosts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

HBW Advisory Services LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,703 shares of the oil and gas producer’s stock after buying an additional 1,165 shares during the quarter. HBW Advisory Services LLC’s holdings in Enterprise Products Partners were worth $837,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter valued at about $2,628,000. FMR LLC raised its stake in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp grew its stake in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after buying an additional 51,809 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares during the period. Finally, Brookfield Corp ON increased its holdings in shares of Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after buying an additional 278,892 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.7 %

Shares of NYSE EPD opened at $32.21 on Friday. Enterprise Products Partners L.P. has a 12-month low of $26.12 and a 12-month high of $34.63. The stock has a market cap of $69.82 billion, a P/E ratio of 12.06, a PEG ratio of 1.66 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The business’s fifty day simple moving average is $31.72 and its 200-day simple moving average is $30.07.

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

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.64%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Analysts Set New Price Targets

Several research analysts recently weighed in on EPD shares. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday. Scotiabank started coverage on Enterprise Products Partners in a report on Friday. They set a “sector perform” rating and a $33.00 price target for the company. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners 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.