Oppenheimer & Co. Inc. Purchases 5,801 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Oppenheimer & Co. Inc. grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,299 shares of the oil and gas producer’s stock after acquiring an additional 5,801 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enterprise Products Partners were worth $14,059,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Schnieders Capital Management LLC grew its stake in Enterprise Products Partners by 11.8% in the 4th quarter. Schnieders Capital Management LLC now owns 54,168 shares of the oil and gas producer’s stock worth $1,699,000 after acquiring an additional 5,715 shares in the last quarter. Whipplewood Advisors LLC bought a new position in Enterprise Products Partners in the 4th quarter worth about $1,919,000. Cutter & CO Brokerage Inc. grew its stake in Enterprise Products Partners by 1.4% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 668,636 shares of the oil and gas producer’s stock worth $20,968,000 after acquiring an additional 9,152 shares in the last quarter. FourThought Financial Partners LLC grew its stake in Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after acquiring an additional 21,970 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Enterprise Products Partners by 14.1% in the 4th quarter. IFP Advisors Inc now owns 105,003 shares of the oil and gas producer’s stock worth $3,293,000 after acquiring an additional 12,998 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EPD shares. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four 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 company currently has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price Performance

Shares of EPD opened at $33.09 on Thursday. The company has a market cap of $71.71 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $27.26 and a twelve month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average of $32.76 and a two-hundred day moving average of $31.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, 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. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.47%. Enterprise Products Partners’s payout ratio is currently 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.