IFP Advisors Inc Has $3.29 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

IFP Advisors Inc increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 105,003 shares of the oil and gas producer’s stock after purchasing an additional 12,998 shares during the period. IFP Advisors Inc’s holdings in Enterprise Products Partners were worth $3,293,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EPD. International Assets Investment Management LLC increased its stake in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. Allworth Financial LP boosted its stake in Enterprise Products Partners by 56.3% in the third quarter. Allworth Financial LP now owns 25,966 shares of the oil and gas producer’s stock valued at $756,000 after buying an additional 9,353 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Enterprise Products Partners by 1.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 961,389 shares of the oil and gas producer’s stock valued at $27,986,000 after acquiring an additional 14,760 shares during the last quarter. Modera Wealth Management LLC raised its stake in Enterprise Products Partners by 4.5% during the third quarter. Modera Wealth Management LLC now owns 18,508 shares of the oil and gas producer’s stock worth $539,000 after acquiring an additional 800 shares in the last quarter. Finally, Insight Folios Inc lifted its holdings in shares of Enterprise Products Partners by 5.2% in the third quarter. Insight Folios Inc now owns 277,867 shares of the oil and gas producer’s stock worth $8,089,000 after acquiring an additional 13,793 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 0.9 %

NYSE EPD opened at $33.65 on Tuesday. Enterprise Products Partners L.P. has a 12 month low of $27.26 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 $72.93 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The business’s 50-day moving average price is $32.67 and its two-hundred day moving average price is $30.99.

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 6.36%. The ex-dividend date 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%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EPD. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Scotiabank started 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 target for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

About Enterprise Products Partners

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.