Invesco Ltd. Buys 359,288 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Invesco Ltd. increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,076,718 shares of the oil and gas producer’s stock after purchasing an additional 359,288 shares during the quarter. Invesco Ltd. owned 1.25% of Enterprise Products Partners worth $849,126,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $263,000. Kovitz Investment Group Partners LLC increased its holdings in Enterprise Products Partners by 6.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 159,211 shares of the oil and gas producer’s stock valued at $4,635,000 after buying an additional 9,043 shares during the last quarter. Insigneo Advisory Services LLC increased its holdings in Enterprise Products Partners by 10.0% during the third quarter. Insigneo Advisory Services LLC now owns 16,112 shares of the oil and gas producer’s stock valued at $469,000 after buying an additional 1,465 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Enterprise Products Partners by 18.7% in the third quarter. Orion Portfolio Solutions LLC now owns 13,808 shares of the oil and gas producer’s stock worth $402,000 after acquiring an additional 2,178 shares during the period. Finally, MML Investors Services LLC grew its position in shares of Enterprise Products Partners by 13.1% during the 3rd quarter. MML Investors Services LLC now owns 127,600 shares of the oil and gas producer’s stock valued at $3,714,000 after acquiring an additional 14,806 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EPD. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Barclays boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Truist Financial raised 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. Finally, Morgan Stanley upped their price target on shares of 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. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Price Performance

EPD stock opened at $29.84 on Tuesday. The company has a market capitalization of $64.61 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The company’s fifty day moving average price is $33.34 and its 200-day moving average price is $31.88. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. During the same quarter in the previous year, the company earned $0.72 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 7.17%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Enterprise Products Partners 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.