Sage Investment Counsel LLC Buys New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

Sage Investment Counsel LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 44,884 shares of the oil and gas producer’s stock, valued at approximately $1,408,000. Enterprise Products Partners accounts for 1.8% of Sage Investment Counsel LLC’s portfolio, making the stock its 8th biggest holding.

A number of other large investors have also made changes to their positions in EPD. Pinnacle Associates Ltd. raised its holdings in shares of Enterprise Products Partners by 14.1% during the third quarter. Pinnacle Associates Ltd. now owns 132,696 shares of the oil and gas producer’s stock valued at $3,863,000 after acquiring an additional 16,371 shares during the period. HM Payson & Co. raised its holdings in shares of Enterprise Products Partners by 8.7% during the third quarter. HM Payson & Co. now owns 38,473 shares of the oil and gas producer’s stock valued at $1,120,000 after acquiring an additional 3,081 shares during the period. US Bancorp DE raised its holdings in shares of Enterprise Products Partners by 0.9% during the third quarter. US Bancorp DE now owns 688,851 shares of the oil and gas producer’s stock valued at $20,052,000 after acquiring an additional 6,267 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of Enterprise Products Partners by 0.4% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 278,960 shares of the oil and gas producer’s stock valued at $8,121,000 after acquiring an additional 1,000 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Enterprise Products Partners by 1,389.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 34,706 shares of the oil and gas producer’s stock valued at $1,010,000 after acquiring an additional 32,376 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $33.41 on Friday. The company’s fifty day moving average is $32.85 and its 200-day moving average is $31.09. Enterprise Products Partners L.P. has a 12 month low of $27.26 and a 12 month high of $34.63. The firm has a market cap of $72.41 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS 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. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EPD shares. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wells Fargo & Company lowered 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 research note on Wednesday, December 18th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, 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 objective on the stock. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus 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.