Bessemer Group Inc. Acquires 31,866 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Bessemer Group Inc. raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 24.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 162,780 shares of the oil and gas producer's stock after purchasing an additional 31,866 shares during the quarter. Bessemer Group Inc.'s holdings in Enterprise Products Partners were worth $5,105,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Fernwood Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth $206,000. Texas Yale Capital Corp. raised its position in Enterprise Products Partners by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,729,406 shares of the oil and gas producer's stock worth $54,234,000 after buying an additional 5,394 shares during the last quarter. Rollins Financial Advisors LLC raised its position in Enterprise Products Partners by 27.7% in the 4th quarter. Rollins Financial Advisors LLC now owns 136,910 shares of the oil and gas producer's stock worth $4,294,000 after buying an additional 29,737 shares during the last quarter. Elgethun Capital Management lifted its stake in Enterprise Products Partners by 1.2% during the 4th quarter. Elgethun Capital Management now owns 100,910 shares of the oil and gas producer's stock valued at $3,165,000 after acquiring an additional 1,216 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Enterprise Products Partners by 1.3% during the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock valued at $849,126,000 after acquiring an additional 359,288 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EPD shares. StockNews.com upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Tuesday. Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Barclays upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Wolfe Research cut Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Finally, Truist Financial upped their price target 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. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $36.89.

Enterprise Products Partners Price Performance

NYSE EPD traded up $0.63 during trading hours on Tuesday, reaching $30.95. The company's stock had a trading volume of 3,881,612 shares, compared to its average volume of 4,386,746. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The firm's 50-day moving average price is $32.79 and its 200-day moving average price is $31.87. The company has a market capitalization of $67.03 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share 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 analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.91%. Enterprise Products Partners's dividend payout ratio (DPR) is 79.55%.

About Enterprise Products Partners

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.