Cutter & CO Brokerage Inc. Has $20.97 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Cutter & CO Brokerage Inc. boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 668,636 shares of the oil and gas producer’s stock after buying an additional 9,152 shares during the period. Enterprise Products Partners accounts for 5.1% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 3rd biggest holding. Cutter & CO Brokerage Inc.’s holdings in Enterprise Products Partners were worth $20,968,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the business. FMR LLC boosted 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 lifted its position in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Brookfield Corp ON lifted its position in shares of Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after purchasing an additional 278,892 shares in the last quarter. Thrivent Financial for Lutherans raised its position in 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 valued at $118,561,000 after acquiring an additional 200,625 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Enterprise Products Partners by 0.3% during the third quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock valued at $101,032,000 after acquiring an additional 9,257 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on EPD. 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 research note on Wednesday, December 18th. Scotiabank began coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Price Performance

Shares of EPD opened at $33.24 on Wednesday. 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 simple moving average of $32.71 and a 200 day simple moving average of $31.03. Enterprise Products Partners L.P. has a 52-week low of $27.26 and a 52-week high of $34.63. The firm has a market capitalization of $72.04 billion, a PE ratio of 12.36, a P/E/G ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. 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 6.44%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.