Allworth Financial LP Has $1.53 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Allworth Financial LP lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 74.7% during the 4th quarter, Holdings Channel reports. The firm owned 45,366 shares of the oil and gas producer’s stock after acquiring an additional 19,400 shares during the period. Allworth Financial LP’s holdings in Enterprise Products Partners were worth $1,533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its holdings 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 buying an additional 656 shares during the period. Assetmark Inc. boosted its holdings in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $36,000. Bangor Savings Bank boosted its stake in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $40,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.7 %

Shares of EPD opened at $33.69 on Wednesday. Enterprise Products Partners L.P. has a 1-year low of $27.20 and a 1-year high of $34.63. The company has a market capitalization of $73.02 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $32.53 and its 200 day simple moving average is $30.82.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm posted $0.72 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.87 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 given a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.35%. Enterprise Products Partners’s payout ratio is presently 79.55%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. 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 note on Friday, January 3rd. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Finally, Scotiabank initiated 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 on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average 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.