Enhancing Capital LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Enhancing Capital LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,960 shares of the oil and gas producer's stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. raised its stake 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 acquiring an additional 1,188 shares during the period. Caprock Group LLC acquired a new stake in Enterprise Products Partners during the third quarter worth about $1,943,000. Tranquility Partners LLC raised its stake in Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer's stock worth $675,000 after acquiring an additional 346 shares during the period. BIP Wealth LLC acquired a new stake in Enterprise Products Partners during the third quarter worth about $614,000. Finally, Avior Wealth Management LLC raised its stake in Enterprise Products Partners by 46.2% during the third quarter. Avior Wealth Management LLC now owns 17,409 shares of the oil and gas producer's stock worth $507,000 after acquiring an additional 5,500 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

NYSE:EPD traded down $0.42 during trading hours on Friday, reaching $33.69. 5,731,334 shares of the company's stock were exchanged, compared to its average volume of 4,138,293. The company has a market capitalization of $72.95 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business's 50-day simple moving average is $33.41 and its two-hundred day simple moving average is $31.56.

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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 analysts' expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Barclays raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Scotiabank raised their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Truist Financial raised 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 note on Friday, January 3rd. 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 target on the stock. in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.90.

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.