Prevail Innovative Wealth Advisors LLC Buys New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 63,351 shares of the oil and gas producer’s stock, valued at approximately $1,987,000.

Several other large investors have also added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton lifted its stake in shares of Enterprise Products Partners by 364.4% in 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 in the last quarter. Tidemark LLC grew its holdings in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners in the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the 4th quarter worth approximately $30,000. Finally, Bangor Savings Bank grew its holdings in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EPD shares. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Barclays increased their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $34.09 on Friday. The company has a market cap of $73.83 billion, a P/E ratio of 12.67, a PEG ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock’s 50-day moving average is $33.46 and its 200 day moving average is $31.73. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year 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 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. 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. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.28%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Enterprise Products Partners 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.