NewEdge Advisors LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

NewEdge Advisors LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,819 shares of the oil and gas producer’s stock after buying an additional 8,132 shares during the quarter. NewEdge Advisors LLC’s holdings in Enterprise Products Partners were worth $9,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of EPD. Rosenberg Matthew Hamilton boosted its stake in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the period. Tidemark LLC increased its position in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners during the 4th quarter worth about $30,000. Finally, National Bank of Canada FI boosted its stake in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on EPD shares. StockNews.com upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Morgan Stanley upped their price objective on shares of 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. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Stock Up 2.0 %

Enterprise Products Partners stock opened at $31.05 on Friday. The stock has a market capitalization of $67.25 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.37 and a beta of 0.78. 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 stock has a 50 day moving average of $32.65 and a two-hundred day moving average of $31.87. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63.

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, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.89%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.