Edgemoor Investment Advisors Inc. Acquires 2,181 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Edgemoor Investment Advisors Inc. raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 309,426 shares of the oil and gas producer’s stock after purchasing an additional 2,181 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Enterprise Products Partners were worth $9,704,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rosenberg Matthew Hamilton grew its stake in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the period. Tidemark LLC grew its stake in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the period. Assetmark Inc. grew its stake in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Bangor Savings Bank lifted its position in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $40,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.54 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The stock’s 50 day simple moving average is $33.23 and its two-hundred day simple moving average is $31.41. The company has a market cap of $72.63 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate 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. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.38%. Enterprise Products Partners’s payout ratio is presently 79.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EPD. Barclays lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Truist Financial lifted their price objective 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. Morgan Stanley lifted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $35.90.

About Enterprise Products Partners

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.