Walker Asset Management LLC Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Walker Asset Management LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,621 shares of the oil and gas producer’s stock after acquiring an additional 652 shares during the quarter. Walker Asset Management LLC’s holdings in Enterprise Products Partners were worth $584,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Rosenberg Matthew Hamilton lifted its position in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its position in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners during the 3rd quarter worth $36,000. Finally, Bangor Savings Bank increased its position in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.60 on Friday. Enterprise Products Partners L.P. has a 52-week low of $26.12 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 stock has a market cap of $72.82 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. The business has a 50-day simple moving average of $32.01 and a 200-day simple moving average of $30.19.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.37%. Enterprise Products Partners’s payout ratio is presently 80.15%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial lifted their target price 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 set 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 objective on the stock. in a report on Wednesday, December 18th. Finally, Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Four 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 stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $34.60.

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.