MONECO Advisors LLC Buys 804 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

MONECO Advisors LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,722 shares of the oil and gas producer’s stock after acquiring an additional 804 shares during the period. MONECO Advisors LLC’s holdings in Enterprise Products Partners were worth $3,817,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Verity & Verity LLC increased its position in Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after buying an additional 26,032 shares during the last quarter. Spinnaker Trust acquired a new position in Enterprise Products Partners during the fourth quarter worth approximately $280,000. Paragon Advisors LLC acquired a new position in Enterprise Products Partners during the third quarter worth approximately $2,628,000. FMR LLC increased its position in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its position in Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after buying an additional 51,809 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.5 %

Shares of EPD stock opened at $33.41 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $72.41 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The stock has a 50 day simple moving average of $32.63 and a 200 day simple moving average of $30.95. Enterprise Products Partners L.P. has a 1 year low of $27.26 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued 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. The business had revenue of $14.20 billion during 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 firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. On average, research analysts predict 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 announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.41%. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EPD shares. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank initiated 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 on the stock. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.70.

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.