Verity & Verity LLC Boosts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Verity & Verity LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 30.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,648 shares of the oil and gas producer's stock after purchasing an additional 26,032 shares during the quarter. Verity & Verity LLC's holdings in Enterprise Products Partners were worth $3,470,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rosenberg Matthew Hamilton lifted its holdings in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 656 shares during the period. DiNuzzo Private Wealth Inc. lifted its stake in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. lifted its stake in shares of Enterprise Products Partners by 19,800.0% in the 3rd 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. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at about $36,000. Finally, Bangor Savings Bank increased its stake in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer's stock worth $40,000 after acquiring an additional 1,072 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.08 on Friday, hitting $33.60. The company had a trading volume of 3,853,513 shares, compared to its average volume of 2,982,659. The business has a 50 day moving average of $32.07 and a 200 day moving average of $30.22. Enterprise Products Partners L.P. has a 52-week low of $26.12 and a 52-week high of $34.63. The company has a market cap of $72.82 billion, a PE ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09. 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 announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners's payout ratio is currently 78.65%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EPD. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a "buy" rating and a $35.00 target price for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a "sector perform" rating and a $33.00 target price on the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Four investment 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 a consensus target price of $34.60.

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.