Tranquility Partners LLC Acquires 329 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Tranquility Partners LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,533 shares of the oil and gas producer’s stock after acquiring an additional 329 shares during the period. Tranquility Partners LLC’s holdings in Enterprise Products Partners were worth $738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ingalls & Snyder LLC raised its position in shares of Enterprise Products Partners by 3.0% during the fourth quarter. Ingalls & Snyder LLC now owns 14,678 shares of the oil and gas producer’s stock valued at $460,000 after buying an additional 426 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Enterprise Products Partners by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 95,029 shares of the oil and gas producer’s stock worth $2,980,000 after purchasing an additional 10,090 shares in the last quarter. Perissos Private Wealth Management LLC raised its stake in shares of Enterprise Products Partners by 1.4% in the fourth quarter. Perissos Private Wealth Management LLC now owns 35,961 shares of the oil and gas producer’s stock valued at $1,128,000 after purchasing an additional 500 shares in the last quarter. Community Bank & Trust Waco Texas bought a new position in Enterprise Products Partners in the fourth quarter worth $201,000. Finally, Clarus Group Inc. raised its stake in shares of Enterprise Products Partners by 0.5% in the 4th quarter. Clarus Group Inc. now owns 62,087 shares of the oil and gas producer’s stock valued at $1,947,000 after buying an additional 331 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Truist Financial upped their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Scotiabank assumed coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned 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 price target of $34.70.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $32.92 on Thursday. 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 L.P. has a 12-month low of $26.31 and a 12-month high of $34.63. The stock has a market cap of $71.36 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.54 and a beta of 1.09. The business’s 50-day simple moving average is $32.48 and its 200 day simple moving average is $30.70.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share 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 business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.50%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

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.