Mainstay Capital Management LLC ADV Invests $240,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Mainstay Capital Management LLC ADV purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,645 shares of the oil and gas producer’s stock, valued at approximately $240,000.

Several other hedge funds have also made changes to their positions in the business. Trust Co. of Vermont boosted its position in shares of Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after buying an additional 300 shares in the last quarter. Griffin Asset Management Inc. boosted its position 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 boosted its position 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 in the last quarter. Sandbox Financial Partners LLC boosted its position in shares of Enterprise Products Partners by 3.2% in the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after buying an additional 309 shares in the last quarter. Finally, Hardy Reed LLC lifted its holdings in Enterprise Products Partners by 2.2% in the 4th quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer’s stock valued at $461,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the topic of a number of recent research reports. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial upped their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Down 0.5 %

EPD opened at $33.41 on Monday. The firm has a 50 day moving average price of $32.63 and a 200 day moving average price of $30.96. The company has a market cap of $72.41 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Enterprise Products Partners L.P. has a 1 year low of $27.26 and a 1 year high of $34.63. 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 issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. Sell-side analysts expect 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 is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, January 31st. 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.