Ingalls & Snyder LLC Buys 426 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Ingalls & Snyder LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,678 shares of the oil and gas producer’s stock after purchasing an additional 426 shares during the period. Ingalls & Snyder LLC’s holdings in Enterprise Products Partners were worth $460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SeaCrest Wealth Management LLC increased its position in shares of Enterprise Products Partners by 34.4% during the third quarter. SeaCrest Wealth Management LLC now owns 30,801 shares of the oil and gas producer’s stock worth $897,000 after acquiring an additional 7,891 shares in the last quarter. FLC Capital Advisors increased its position in shares of Enterprise Products Partners by 2.8% during the third quarter. FLC Capital Advisors now owns 111,860 shares of the oil and gas producer’s stock worth $3,256,000 after acquiring an additional 3,073 shares in the last quarter. HFG Advisors Inc. increased its position in shares of Enterprise Products Partners by 125.0% during the third quarter. HFG Advisors Inc. now owns 22,050 shares of the oil and gas producer’s stock worth $642,000 after acquiring an additional 12,250 shares in the last quarter. Quad Cities Investment Group LLC increased its position in shares of Enterprise Products Partners by 9.9% during the third quarter. Quad Cities Investment Group LLC now owns 32,243 shares of the oil and gas producer’s stock worth $939,000 after acquiring an additional 2,892 shares in the last quarter. Finally, Good Life Advisors LLC increased its position in shares of Enterprise Products Partners by 21.6% during the third quarter. Good Life Advisors LLC now owns 15,913 shares of the oil and gas producer’s stock worth $463,000 after acquiring an additional 2,828 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EPD. 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. 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. Truist Financial boosted 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. Scotiabank started coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Finally, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Up 0.9 %

EPD opened at $33.22 on Friday. The stock has a market cap of $72.00 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.54 and a beta of 1.09. 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 company’s 50-day moving average price is $32.48 and its two-hundred day moving average price is $30.72. Enterprise Products Partners L.P. has a twelve month low of $26.49 and a twelve month high of $34.63.

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, beating analysts’ consensus estimates of $0.69 by $0.05. The company 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%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

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.