Allianz Asset Management GmbH Buys 88,100 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Allianz Asset Management GmbH boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,268,855 shares of the oil and gas producer’s stock after purchasing an additional 88,100 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.10% of Enterprise Products Partners worth $71,151,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of EPD. Verity & Verity LLC raised its stake in shares of Enterprise Products Partners by 30.8% during the 4th 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 shares of Enterprise Products Partners during the fourth quarter worth $280,000. Paragon Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $2,628,000. FMR LLC lifted its holdings in shares of 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 during the last quarter. Finally, Peapack Gladstone Financial Corp boosted its position 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 worth $3,954,000 after purchasing an additional 51,809 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on EPD shares. Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Citigroup upped their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, 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. Four 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Price Performance

Shares of EPD opened at $33.41 on Friday. The company has a market capitalization of $72.41 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.38 and a beta of 1.09. Enterprise Products Partners L.P. has a fifty-two week low of $27.26 and a fifty-two week high of $34.63. The business’s 50-day moving average is $32.63 and its two-hundred day moving average is $30.93. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business earned $0.72 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.41%. This is an increase 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 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.