Verus Capital Partners LLC Has $736,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Verus Capital Partners LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 44.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 23,468 shares of the oil and gas producer’s stock after purchasing an additional 7,270 shares during the quarter. Verus Capital Partners LLC’s holdings in Enterprise Products Partners were worth $736,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EPD. Pinnacle Associates Ltd. increased its position in Enterprise Products Partners by 14.1% in the third quarter. Pinnacle Associates Ltd. now owns 132,696 shares of the oil and gas producer’s stock worth $3,863,000 after purchasing an additional 16,371 shares during the period. HM Payson & Co. boosted its stake in shares of Enterprise Products Partners by 8.7% in the 3rd quarter. HM Payson & Co. now owns 38,473 shares of the oil and gas producer’s stock valued at $1,120,000 after purchasing an additional 3,081 shares during the last quarter. US Bancorp DE grew its position in shares of Enterprise Products Partners by 0.9% during the 3rd quarter. US Bancorp DE now owns 688,851 shares of the oil and gas producer’s stock worth $20,052,000 after buying an additional 6,267 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of Enterprise Products Partners by 0.4% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 278,960 shares of the oil and gas producer’s stock worth $8,121,000 after buying an additional 1,000 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Enterprise Products Partners by 1,389.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 34,706 shares of the oil and gas producer’s stock valued at $1,010,000 after buying an additional 32,376 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on EPD. Wolfe Research lowered 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 Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.41 on Friday. 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 L.P. has a 52 week low of $27.26 and a 52 week high of $34.63. The company’s 50 day moving average price is $32.85 and its two-hundred day moving average price is $31.09. The company has a market capitalization of $72.41 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

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

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date was 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 6.41%. Enterprise Products Partners’s dividend payout ratio (DPR) 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.