Fisher Asset Management LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Fisher Asset Management LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 50.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,476 shares of the oil and gas producer's stock after purchasing an additional 8,900 shares during the quarter. Fisher Asset Management LLC's holdings in Enterprise Products Partners were worth $830,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the period. FMR LLC lifted its holdings in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock valued at $420,037,000 after acquiring an additional 1,225,988 shares during the last quarter. Merewether Investment Management LP purchased a new position in Enterprise Products Partners in the third quarter worth approximately $30,746,000. Strategic Financial Concepts LLC raised its position in Enterprise Products Partners by 3,884.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer's stock valued at $21,414,000 after purchasing an additional 665,716 shares during the period. Finally, Fisher Funds Management LTD acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $13,599,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citigroup reiterated a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wells Fargo & Company lowered Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Wolfe Research cut Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday. Finally, Truist Financial increased their target price 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. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.90.

Enterprise Products Partners Price Performance

NYSE:EPD traded up $0.68 during trading hours on Friday, hitting $33.43. The company's stock had a trading volume of 6,028,329 shares, compared to its average volume of 4,889,962. The company has a market capitalization of $72.40 billion, a PE ratio of 12.43, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The business's 50-day moving average is $33.06 and its two-hundred day moving average is $31.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. The company 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 quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. As a group, research analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.40%. Enterprise Products Partners's dividend payout ratio is 79.55%.

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.