117,363 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 117,363 shares of the oil and gas producer’s stock, valued at approximately $3,093,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. raised its stake in Enterprise Products Partners by 8.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after acquiring an additional 371 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Enterprise Products Partners by 3.3% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock worth $328,000 after purchasing an additional 386 shares during the last quarter. Ellsworth Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 1.9% during the fourth quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock worth $558,000 after purchasing an additional 393 shares during the period. Register Financial Advisors LLC grew its position in Enterprise Products Partners by 2.3% in the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after buying an additional 397 shares during the last quarter. Finally, Your Advocates Ltd. LLP increased its stake in Enterprise Products Partners by 1.9% in the 3rd quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock valued at $615,000 after buying an additional 412 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $27.75 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $28.63 and its 200 day moving average price is $27.35. Enterprise Products Partners L.P. has a 52 week low of $25.19 and a 52 week high of $29.99. The stock has a market cap of $60.17 billion, a price-to-earnings ratio of 10.88 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The company’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.42%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EPD. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Truist Financial boosted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Barclays upped their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, Wells Fargo & Company raised their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and an average target price of $32.75.

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.