Ieq Capital LLC Increases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Ieq Capital LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 80.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,246 shares of the oil and gas producer’s stock after acquiring an additional 19,667 shares during the period. Ieq Capital LLC’s holdings in Enterprise Products Partners were worth $1,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares in the last quarter. Brookfield Corp ON boosted its position in shares of Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after acquiring an additional 278,892 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of Enterprise Products Partners by 0.3% in the third quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock worth $101,032,000 after purchasing an additional 9,257 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.65 on Tuesday. The company has a market capitalization of $72.93 billion, a P/E ratio of 12.51, a PEG ratio of 1.37 and a beta of 1.09. Enterprise Products Partners L.P. has a fifty-two week low of $27.26 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a 50 day moving average price of $32.67 and a two-hundred day moving average price of $30.99.

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, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion during 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 firm’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current 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 paid a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.36%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EPD shares. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Truist Financial raised 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price 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.