Independent Advisor Alliance Increases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Independent Advisor Alliance lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,164 shares of the oil and gas producer’s stock after acquiring an additional 7,224 shares during the period. Independent Advisor Alliance’s holdings in Enterprise Products Partners were worth $4,333,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Brookfield Corp ON boosted its position in shares of Enterprise Products Partners by 6.2% during the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after acquiring an additional 278,892 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after acquiring an additional 200,625 shares in the last quarter. Stifel Financial Corp increased its holdings in Enterprise Products Partners by 0.3% in the 3rd quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock valued at $101,032,000 after acquiring an additional 9,257 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its holdings in Enterprise Products Partners by 5.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock valued at $100,646,000 after acquiring an additional 153,083 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 1.4 %

Shares of EPD opened at $33.18 on Wednesday. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company’s fifty day simple moving average is $33.14 and its 200-day simple moving average is $31.33. The company has a market cap of $71.85 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 EPS. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current 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 paid a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.45%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research analyst reports. Morgan Stanley raised 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. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Scotiabank raised their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.30.

Enterprise Products Partners Company 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.