Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 33.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,391 shares of the oil and gas producer’s stock after acquiring an additional 4,560 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Enterprise Products Partners were worth $577,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Verity & Verity LLC grew its position in Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after purchasing an additional 26,032 shares during the period. Spinnaker Trust acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $280,000. FourThought Financial Partners LLC lifted its holdings in Enterprise Products Partners by 18.5% in the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after acquiring an additional 21,970 shares during the period. FMR LLC boosted its position in Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its stake in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EPD shares. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Scotiabank raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Enterprise Products Partners Trading Up 0.4 %

Shares of EPD opened at $34.09 on Friday. The firm’s fifty day moving average is $33.46 and its two-hundred day moving average is $31.71. The stock has a market cap of $73.83 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. 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 52-week low of $27.37 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. Research 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 business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.28%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Enterprise Products Partners Company 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.