A. D. Beadell Investment Counsel Inc. Has $5.03 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

A. D. Beadell Investment Counsel Inc. increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the fourth quarter, Holdings Channel reports. The firm owned 160,310 shares of the oil and gas producer’s stock after buying an additional 500 shares during the quarter. Enterprise Products Partners makes up approximately 4.1% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 3rd largest holding. A. D. Beadell Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $5,027,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EPD. Curi RMB Capital LLC lifted its stake in shares of Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after buying an additional 339 shares during the last quarter. Versant Capital Management Inc raised its holdings in Enterprise Products Partners by 10.7% in the 4th quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock valued at $110,000 after acquiring an additional 340 shares during the period. Zega Financial LLC lifted its position in Enterprise Products Partners by 1.7% during the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after acquiring an additional 344 shares during the last quarter. Tranquility Partners LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after acquiring an additional 346 shares during the period. Finally, Princeton Global Asset Management LLC grew its position in shares of Enterprise Products Partners by 4.9% in the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after purchasing an additional 350 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EPD. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday. They issued a “sector perform” rating and a $33.00 price target for the company. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Finally, Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners Price Performance

Shares of EPD stock traded down $0.10 during trading hours on Friday, reaching $32.34. The company’s stock had a trading volume of 1,674,661 shares, compared to its average volume of 3,033,599. 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 fifty-two week low of $26.12 and a fifty-two week high of $34.63. The company has a market capitalization of $70.10 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.66 and a beta of 1.09. The firm’s 50 day simple moving average is $31.65 and its 200-day simple moving average is $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the firm posted $0.60 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.535 dividend. 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 6.62%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

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.