Bank of Stockton Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Bank of Stockton raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 26.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,030 shares of the oil and gas producer’s stock after buying an additional 2,098 shares during the period. Bank of Stockton’s holdings in Enterprise Products Partners were worth $315,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC raised its stake in Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Barclays PLC raised its stake in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares during the period. International Assets Investment Management LLC raised its stake in Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after acquiring an additional 1,243,741 shares during the period. FMR LLC raised its stake in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in Enterprise Products Partners during the third quarter worth about $30,746,000. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on EPD. Truist Financial increased their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Finally, Citigroup raised their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Four investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Price Performance

NYSE EPD opened at $33.54 on Friday. 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 debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market capitalization of $72.69 billion, a PE ratio of 12.47, a P/E/G ratio of 1.38 and a beta of 1.09. The company’s 50 day simple moving average is $32.60 and its 200 day simple moving average is $30.89.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.38%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.