By otakuyassine3@gmail.com 
HB Wealth Management LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,521 shares of the oil and gas producer’s stock after selling 4,708 shares during the quarter. HB Wealth Management LLC’s holdings in Enterprise Products Partners were worth $3,591,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Verity & Verity LLC increased its position 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 during the period. Paragon Advisors LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth about $2,628,000. FMR LLC raised its position in shares of 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 valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in shares of Enterprise Products Partners by 61.7% in the third 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. Finally, Thrivent Financial for Lutherans grew its position in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after buying an additional 200,625 shares in the last quarter. 26.07% of the stock is owned by institutional investors.
Enterprise Products Partners Stock Performance
NYSE:EPD opened at $33.60 on Monday. The stock has a market capitalization of $72.82 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63. The firm has a 50 day moving average of $32.07 and a 200-day moving average of $30.23. 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 (NYSE:EPD – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the firm posted $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. 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 6.37%. Enterprise Products Partners’s payout ratio is currently 78.65%.
Wall Street Analyst Weigh In
EPD has been the subject of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company cut 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 report on Wednesday, December 18th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $34.60.
Get Our Latest Stock Report on EPD
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.
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