Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Raised by Corient Private Wealth LLC

Corient Private Wealth LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,436,308 shares of the oil and gas producer’s stock after acquiring an additional 29,177 shares during the quarter. Corient Private Wealth LLC’s holdings in Enterprise Products Partners were worth $45,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC raised its holdings in Enterprise Products Partners by 9.3% during the 3rd 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 period. Kayne Anderson Capital Advisors LP increased its position in shares of Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after acquiring an additional 1,947,017 shares in the last quarter. Brookfield Corp ON raised its holdings in shares of Enterprise Products Partners by 6.2% during the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after acquiring an additional 278,892 shares during the period. Stifel Financial Corp lifted its position in shares of Enterprise Products Partners by 0.3% in the 3rd quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock valued at $101,032,000 after acquiring an additional 9,257 shares in the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in Enterprise Products Partners by 5.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock worth $100,646,000 after purchasing an additional 153,083 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $33.88 on Tuesday. The firm has a market cap of $73.38 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company’s fifty day moving average is $33.27 and its 200-day moving average is $31.44. 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 12 month low of $27.37 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its 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. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.32%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is 79.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EPD. Morgan Stanley increased their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank upped their target price 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. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.90.

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.