Whipplewood Advisors LLC Buys New Position in Enterprise Products Partners L.P. (NYSE:EPD)

Whipplewood Advisors LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 61,190 shares of the oil and gas producer’s stock, valued at approximately $1,919,000. Enterprise Products Partners makes up approximately 1.1% of Whipplewood Advisors LLC’s portfolio, making the stock its 23rd biggest position.

A number of other large investors have also modified their holdings of the business. Patriot Financial Group Insurance Agency LLC grew its position in Enterprise Products Partners by 5.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 10,555 shares of the oil and gas producer’s stock worth $307,000 after purchasing an additional 581 shares during the last quarter. Hunter Associates Investment Management LLC purchased a new position in shares of Enterprise Products Partners in the third quarter worth $228,000. Integrated Advisors Network LLC lifted its stake in shares of Enterprise Products Partners by 55.3% during the third quarter. Integrated Advisors Network LLC now owns 30,878 shares of the oil and gas producer’s stock worth $899,000 after buying an additional 10,994 shares during the period. Fidelis Capital Partners LLC grew its holdings in shares of Enterprise Products Partners by 1.6% during the third quarter. Fidelis Capital Partners LLC now owns 37,374 shares of the oil and gas producer’s stock valued at $1,083,000 after buying an additional 598 shares during the last quarter. Finally, Mutual Advisors LLC increased its position in shares of Enterprise Products Partners by 1.0% in the 3rd quarter. Mutual Advisors LLC now owns 186,487 shares of the oil and gas producer’s stock valued at $5,414,000 after acquiring an additional 1,935 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.6 %

EPD stock opened at $33.09 on Thursday. Enterprise Products Partners L.P. has a 52-week low of $27.26 and a 52-week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $71.71 billion, a P/E ratio of 12.30, a PEG ratio of 1.37 and a beta of 1.09. The company’s 50-day simple moving average is $32.76 and its 200-day simple moving average is $31.04.

Enterprise Products Partners (NYSE:EPD) last released 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 return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities 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. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is a positive change 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 6.47%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Scotiabank began coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company downgraded shares of 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 equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners 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.