Arkadios Wealth Advisors Raises Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Arkadios Wealth Advisors grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,677 shares of the oil and gas producer’s stock after buying an additional 7,086 shares during the period. Arkadios Wealth Advisors’ holdings in Enterprise Products Partners were worth $1,683,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EPD. Pathway Financial Advisers LLC lifted its holdings in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Barclays PLC lifted its holdings in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares in the last quarter. FMR LLC lifted 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 purchasing an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new stake in Enterprise Products Partners during the 3rd quarter worth about $30,746,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $33.60 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The firm has a market cap of $72.82 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.57 and a beta of 1.09. The business’s 50 day moving average price is $32.07 and its 200-day moving average price is $30.22.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. 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 dividend yield of 6.37%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $34.60.

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.