Allworth Financial LP Boosts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Allworth Financial LP lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 74.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,366 shares of the oil and gas producer's stock after buying an additional 19,400 shares during the quarter. Allworth Financial LP's holdings in Enterprise Products Partners were worth $1,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in EPD. Stratos Wealth Advisors LLC raised its stake in shares of Enterprise Products Partners by 3.9% in the third quarter. Stratos Wealth Advisors LLC now owns 18,602 shares of the oil and gas producer's stock worth $542,000 after buying an additional 692 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Enterprise Products Partners by 3.2% in the third quarter. Commonwealth Equity Services LLC now owns 1,064,093 shares of the oil and gas producer's stock worth $30,976,000 after buying an additional 33,228 shares during the period. Bayshore Asset Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth about $240,000. Foundations Investment Advisors LLC raised its stake in Enterprise Products Partners by 262.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 275,058 shares of the oil and gas producer's stock valued at $8,007,000 after purchasing an additional 199,098 shares during the period. Finally, Mattern Wealth Management LLC raised its stake in Enterprise Products Partners by 9.4% during the 3rd quarter. Mattern Wealth Management LLC now owns 9,325 shares of the oil and gas producer's stock valued at $271,000 after purchasing an additional 800 shares during the period. Institutional investors own 26.07% of the company's stock.

Analyst Ratings Changes

EPD has been the topic of several recent analyst reports. Scotiabank initiated coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a "sector perform" rating and a $33.00 target price on the stock. Wells Fargo & Company downgraded 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. Citigroup lifted their target price on Enterprise Products Partners from $36.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Truist Financial lifted 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. Finally, US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $34.70.

Enterprise Products Partners Trading Down 0.5 %

Shares of Enterprise Products Partners stock traded down $0.18 on Friday, reaching $33.41. The company had a trading volume of 5,511,541 shares, compared to its average volume of 4,835,167. The firm has a market cap of $72.41 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.38 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm's 50-day moving average price is $32.60 and its two-hundred day moving average price is $30.89. Enterprise Products Partners L.P. has a 1 year low of $27.26 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, research 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 business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued 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 dividend yield of 6.41%. Enterprise Products Partners's payout ratio is 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.