Horizon Kinetics Asset Management LLC Boosts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Horizon Kinetics Asset Management LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,752 shares of the oil and gas producer’s stock after purchasing an additional 580 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Enterprise Products Partners were worth $4,100,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its stake in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the last quarter. Tidemark LLC lifted its position in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Assetmark Inc. lifted its position in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares in the last quarter. Bangor Savings Bank lifted its position in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.7 %

EPD opened at $33.54 on Monday. The stock has a market cap of $72.63 billion, a PE ratio of 12.47, a P/E/G ratio of 1.37 and a beta of 1.08. 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 L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The business’s fifty day simple moving average is $33.23 and its 200 day simple moving average is $31.41.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.38%. 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. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EPD. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Morgan Stanley increased their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Barclays increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Finally, Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four 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, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $35.90.

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.