Congress Wealth Management LLC DE Buys 14,550 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Congress Wealth Management LLC DE increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 462,267 shares of the oil and gas producer’s stock after acquiring an additional 14,550 shares during the period. Congress Wealth Management LLC DE’s holdings in Enterprise Products Partners were worth $14,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Verity & Verity LLC raised its position in shares of Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after buying an additional 26,032 shares in the last quarter. Spinnaker Trust acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $280,000. FourThought Financial Partners LLC lifted its stake in Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after purchasing an additional 21,970 shares during the last quarter. FMR LLC boosted its holdings in shares of 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 valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its stake in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.4 %

NYSE EPD opened at $33.70 on Tuesday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 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 firm has a market capitalization of $72.98 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The business’s 50-day moving average price is $33.43 and its two-hundred day moving average price is $31.61.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results 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. 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 analysts’ expectations of $14.07 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Wall Street Analyst Weigh In

EPD has been the topic of several 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 note on Tuesday, March 11th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Scotiabank increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Truist Financial increased their price target on 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 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 data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.90.

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.