Kelly Financial Services LLC Buys Shares of 12,000 Enterprise Products Partners L.P. (NYSE:EPD)

Kelly Financial Services LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,000 shares of the oil and gas producer's stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPD. Verity & Verity LLC boosted its holdings in shares of Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock valued at $3,470,000 after buying an additional 26,032 shares during the period. Paragon Advisors LLC acquired a new position in Enterprise Products Partners in the third quarter valued at approximately $2,628,000. FMR LLC grew its holdings in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock worth $3,954,000 after purchasing an additional 51,809 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer's stock worth $118,561,000 after purchasing an additional 200,625 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded down $0.08 during trading on Friday, hitting $33.60. The company had a trading volume of 3,853,513 shares, compared to its average volume of 2,982,659. Enterprise Products Partners L.P. has a 52 week low of $26.12 and a 52 week high of $34.63. The business's 50-day moving average is $32.07 and its 200 day moving average is $30.23. The company has a market cap of $72.82 billion, a P/E ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09. 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 (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the firm earned $0.60 earnings per share. The firm's revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners's dividend payout ratio (DPR) is presently 78.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Finally, Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.