Steward Partners Investment Advisory LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 310,132 shares of the oil and gas producer's stock after purchasing an additional 21,192 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Enterprise Products Partners were worth $9,726,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Verity & Verity LLC raised its stake in Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock worth $3,470,000 after acquiring an additional 26,032 shares in the last quarter. Spinnaker Trust acquired a new position in Enterprise Products Partners during the fourth quarter worth about $280,000. FourThought Financial Partners LLC raised its stake in Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock worth $4,407,000 after acquiring an additional 21,970 shares in the last quarter. Paragon Advisors LLC acquired a new position in Enterprise Products Partners during the third quarter worth about $2,628,000. Finally, 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 acquiring an additional 1,225,988 shares in the last quarter. Institutional investors own 26.07% of the company's stock.
EPD has been the subject of several research analyst reports. Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price objective for the company. Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.70.
Read Our Latest Report on Enterprise Products Partners
NYSE:EPD traded down $0.15 on Wednesday, reaching $33.18. 4,293,247 shares of the stock traded hands, compared to its average volume of 4,874,167. The firm has a market capitalization of $71.85 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company's 50 day moving average is $32.98 and its 200-day moving average is $31.20. 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 L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.45%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners's dividend payout ratio is presently 79.55%.
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.
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