Uniting Wealth Partners LLC Buys Shares of 8,160 Enterprise Products Partners L.P. (NYSE:EPD)

Uniting Wealth Partners LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,160 shares of the oil and gas producer’s stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. DF Dent & Co. Inc. boosted its holdings in Enterprise Products Partners by 1.9% during the fourth quarter. DF Dent & Co. Inc. now owns 34,832 shares of the oil and gas producer’s stock worth $1,092,000 after buying an additional 650 shares during the last quarter. Allen Wealth Management LLC raised its position in shares of Enterprise Products Partners by 6.8% in the 4th quarter. Allen Wealth Management LLC now owns 30,898 shares of the oil and gas producer’s stock valued at $969,000 after acquiring an additional 1,977 shares during the period. Arete Wealth Advisors LLC boosted its stake in Enterprise Products Partners by 17.4% during the 4th quarter. Arete Wealth Advisors LLC now owns 26,705 shares of the oil and gas producer’s stock worth $838,000 after acquiring an additional 3,961 shares during the last quarter. World Investment Advisors grew its holdings in Enterprise Products Partners by 31.3% during the fourth quarter. World Investment Advisors now owns 52,192 shares of the oil and gas producer’s stock valued at $1,637,000 after purchasing an additional 12,442 shares during the period. Finally, OneAscent Financial Services LLC bought a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $332,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EPD. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Four equities 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $34.06 on Thursday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $35.62. The company’s fifty day simple moving average is $33.47 and its 200-day simple moving average is $31.83. The firm has a market cap of $73.76 billion, a PE ratio of 12.66, a P/E/G 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 (NYSE:EPD) last issued its quarterly 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. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. Equities research 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 declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.28%. Enterprise Products Partners’s payout ratio is 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.