Flagship Harbor Advisors LLC Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Flagship Harbor Advisors LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,790 shares of the oil and gas producer’s stock after buying an additional 667 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Enterprise Products Partners were worth $2,440,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC grew its holdings in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares in the last quarter. Barclays PLC boosted its position in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after acquiring an additional 1,243,741 shares during the last quarter. FMR LLC increased its stake in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at $30,746,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPD has been the topic of a number of research reports. Wells Fargo & Company lowered 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Truist Financial boosted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Four investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners Stock Down 0.2 %

Shares of EPD opened at $33.59 on Friday. The stock has a fifty day simple moving average of $32.38 and a two-hundred day simple moving average of $30.39. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $72.81 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. Enterprise Products Partners L.P. has a 52-week low of $26.12 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (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 firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the business earned $0.60 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This is a boost 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 dividend payout ratio is currently 80.15%.

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.