Private Wealth Partners LLC Acquires 49,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Private Wealth Partners LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 239.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,500 shares of the oil and gas producer’s stock after buying an additional 49,000 shares during the quarter. Private Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $2,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Vermont increased its position in Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 300 shares during the last quarter. Griffin Asset Management Inc. grew its stake in shares of Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after buying an additional 305 shares in the last quarter. Evanson Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 0.4% in the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after buying an additional 306 shares during the last quarter. Sandbox Financial Partners LLC raised its position in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 309 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. lifted its holdings in shares of Enterprise Products Partners by 1.1% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 29,800 shares of the oil and gas producer’s stock valued at $935,000 after acquiring an additional 322 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of several analyst reports. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Citigroup raised their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Four investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $33.62 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market capitalization of $72.86 billion, a PE ratio of 12.50, a P/E/G ratio of 1.57 and a beta of 1.09. The company has a 50 day moving average price of $32.58 and a 200-day moving average price of $30.88. Enterprise Products Partners L.P. has a fifty-two week low of $27.20 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued 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. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company posted $0.72 EPS. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.37%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

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.