Sequoia Financial Advisors LLC Purchases 19,342 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Sequoia Financial Advisors LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 43.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,032 shares of the oil and gas producer’s stock after acquiring an additional 19,342 shares during the period. Sequoia Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $2,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rosenberg Matthew Hamilton raised its position in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares in the last quarter. Bangor Savings Bank grew its holdings in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $40,000. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 32.5% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 325 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the subject of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note 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. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 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 report on Thursday, March 6th. Finally, Barclays lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday. Four equities research 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, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $35.90.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $33.54 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The firm has a market capitalization of $72.63 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock’s 50-day simple moving average is $33.23 and its 200-day simple moving average is $31.38.

Enterprise Products Partners (NYSE:EPD) last issued its 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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.38%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 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.