Arcadia Investment Management Corp MI Has $349,000 Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Arcadia Investment Management Corp MI boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 56.0% in the fourth quarter, Holdings Channel reports. The fund owned 11,141 shares of the oil and gas producer’s stock after acquiring an additional 4,000 shares during the period. Arcadia Investment Management Corp MI’s holdings in Enterprise Products Partners were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its position in Enterprise Products Partners by 4.0% during the 4th quarter. Allianz Asset Management GmbH now owns 2,268,855 shares of the oil and gas producer’s stock worth $71,151,000 after acquiring an additional 88,100 shares during the last quarter. WP Advisors LLC lifted its position in Enterprise Products Partners by 2.6% during the 4th quarter. WP Advisors LLC now owns 346,315 shares of the oil and gas producer’s stock worth $10,860,000 after acquiring an additional 8,766 shares during the last quarter. Waterfront Wealth Inc. lifted its position in Enterprise Products Partners by 1.4% during the 4th quarter. Waterfront Wealth Inc. now owns 37,775 shares of the oil and gas producer’s stock worth $1,185,000 after acquiring an additional 531 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in Enterprise Products Partners by 13.7% during the 4th quarter. Concurrent Investment Advisors LLC now owns 133,654 shares of the oil and gas producer’s stock worth $4,191,000 after acquiring an additional 16,139 shares during the last quarter. Finally, Hardy Reed LLC lifted its position in Enterprise Products Partners by 2.2% during the 4th quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer’s stock worth $461,000 after acquiring an additional 310 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $33.54 on Friday. The stock has a market cap of $72.69 billion, a P/E ratio of 12.47, a PEG ratio of 1.38 and a beta of 1.09. The company’s 50-day simple moving average is $32.60 and its 200 day simple moving average is $30.89. Enterprise Products Partners L.P. has a twelve month low of $27.26 and a twelve 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.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, research analysts forecast 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 dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.38%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EPD shares. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Citigroup boosted their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.70.

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.