Kavar Capital Partners Group LLC Purchases New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

Kavar Capital Partners Group LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,500 shares of the oil and gas producer’s stock, valued at approximately $204,000.

Several other hedge funds have also modified their holdings of EPD. Bank of Montreal Can boosted its position in Enterprise Products Partners by 2.3% in the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock valued at $739,000 after buying an additional 570 shares during the last quarter. Creative Planning boosted its holdings in Enterprise Products Partners by 13.6% in the second quarter. Creative Planning now owns 823,347 shares of the oil and gas producer’s stock valued at $23,861,000 after acquiring an additional 98,827 shares during the last quarter. Copperwynd Financial LLC increased its position in Enterprise Products Partners by 12.3% in the second quarter. Copperwynd Financial LLC now owns 11,465 shares of the oil and gas producer’s stock worth $331,000 after purchasing an additional 1,255 shares during the period. Silver Lake Advisory LLC raised its holdings in Enterprise Products Partners by 1.5% during the 2nd quarter. Silver Lake Advisory LLC now owns 46,149 shares of the oil and gas producer’s stock worth $1,337,000 after purchasing an additional 678 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Enterprise Products Partners by 8.4% in the 2nd quarter. NewEdge Advisors LLC now owns 264,697 shares of the oil and gas producer’s stock worth $7,671,000 after purchasing an additional 20,538 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of recent analyst reports. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. 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 research note on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.59 on Monday. The company’s fifty day simple moving average is $32.38 and its 200-day simple moving average is $30.40. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $72.81 billion, a PE ratio of 12.58, a P/E/G ratio of 1.60 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.37%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

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.