Congress Wealth Management LLC DE Acquires 14,550 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Congress Wealth Management LLC DE lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 462,267 shares of the oil and gas producer's stock after buying an additional 14,550 shares during the period. Congress Wealth Management LLC DE's holdings in Enterprise Products Partners were worth $14,497,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Meridian Wealth Management LLC purchased a new stake in Enterprise Products Partners during the third quarter worth about $372,000. Great Valley Advisor Group Inc. raised its holdings in shares of Enterprise Products Partners by 9.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 102,446 shares of the oil and gas producer's stock worth $2,982,000 after purchasing an additional 8,894 shares during the period. Cerity Partners LLC lifted its stake in Enterprise Products Partners by 15.9% in the third quarter. Cerity Partners LLC now owns 395,516 shares of the oil and gas producer's stock valued at $11,513,000 after purchasing an additional 54,325 shares during the last quarter. Larson Financial Group LLC grew its holdings in Enterprise Products Partners by 394.5% during the third quarter. Larson Financial Group LLC now owns 31,829 shares of the oil and gas producer's stock valued at $927,000 after purchasing an additional 25,393 shares during the period. Finally, Summit Trail Advisors LLC increased its position in Enterprise Products Partners by 11.7% in the third quarter. Summit Trail Advisors LLC now owns 28,055 shares of the oil and gas producer's stock worth $817,000 after buying an additional 2,942 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

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Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.17 on Tuesday, hitting $33.51. The company's stock had a trading volume of 3,136,011 shares, compared to its average volume of 4,133,382. The company has a market capitalization of $72.57 billion, a PE ratio of 12.46, a PEG ratio of 1.37 and a beta of 1.08. 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 company has a 50-day simple moving average of $33.43 and a 200 day simple moving average of $31.61. Enterprise Products Partners L.P. has a 1 year low of $27.37 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.39%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's payout ratio is 79.55%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EPD shares. Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Morgan Stanley increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 11th. Truist Financial lifted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Four 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $35.90.

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.