Brookstone Capital Management Grows Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Brookstone Capital Management boosted its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 50.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 40,932 shares of the oil and gas producer's stock after purchasing an additional 13,698 shares during the period. Brookstone Capital Management's holdings in Enterprise Products Partners were worth $1,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. raised its stake in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. increased its holdings in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners in the third quarter worth about $36,000. Bangor Savings Bank boosted its stake in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer's stock valued at $40,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EPD shares. 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 on the stock. in a report on Wednesday, December 18th. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a "sector perform" rating and a $33.00 target price on the stock. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.60.

Enterprise Products Partners Price Performance

Shares of EPD stock traded up $0.35 during trading hours on Thursday, reaching $33.69. The stock had a trading volume of 2,988,168 shares, compared to its average volume of 3,821,346. The stock's fifty day simple moving average is $31.94 and its 200 day simple moving average is $30.17. The firm has a market capitalization of $73.01 billion, a PE ratio of 12.62, a PEG ratio of 1.57 and a beta of 1.09. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion for the quarter, compared to analysts' expectations of $13.87 billion. During the same quarter 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. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. This is a positive change 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 6.35%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners's dividend payout ratio is currently 78.65%.

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.