Pacer Advisors Inc. Boosts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Pacer Advisors Inc. grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,655 shares of the oil and gas producer's stock after buying an additional 18,831 shares during the period. Pacer Advisors Inc.'s holdings in Enterprise Products Partners were worth $3,251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Verity & Verity LLC boosted its position in shares of Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock worth $3,470,000 after purchasing an additional 26,032 shares during the period. Paragon Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $2,628,000. FMR LLC boosted its holdings in Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock worth $420,037,000 after buying an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp increased its stake in Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock worth $3,954,000 after buying an additional 51,809 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer's stock valued at $118,561,000 after acquiring an additional 200,625 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EPD. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective for the company. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price target on the stock. Four 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 company's stock. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.44.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded down $0.16 during mid-day trading on Tuesday, hitting $32.97. 7,950,221 shares of the company's stock traded hands, compared to its average volume of 4,976,374. The company has a market capitalization of $71.46 billion, a P/E ratio of 12.35, a PEG ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63. 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's 50-day moving average is $32.55 and its two-hundred day moving average is $30.57.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company's revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.67 EPS 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. Shareholders of record on Friday, January 31st will be given a dividend of $0.535 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.49%. Enterprise Products Partners's payout ratio is 80.15%.

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.