Wescott Financial Advisory Group LLC Buys New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Wescott Financial Advisory Group LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,831 shares of the oil and gas producer’s stock, valued at approximately $214,000.

Other large investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its holdings in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the period. Tidemark LLC grew its position in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $30,000. Finally, National Bank of Canada FI lifted its stake in Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 360 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EPD has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Truist Financial increased their price objective 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. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Finally, Morgan Stanley upped their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.89.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $30.83 on Friday. The firm’s 50 day moving average price is $33.41 and its 200-day moving average price is $31.85. 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 stock has a market capitalization of $66.76 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The business 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 was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current 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 $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.94%. 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.