Atria Wealth Solutions Inc. Increases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Atria Wealth Solutions Inc. raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 21.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 216,490 shares of the oil and gas producer's stock after buying an additional 38,167 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Enterprise Products Partners were worth $6,789,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EPD. Verity & Verity LLC lifted its position in 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 valued at $3,470,000 after purchasing an additional 26,032 shares during the last quarter. Spinnaker Trust purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at $280,000. Paragon Advisors LLC bought a new position in Enterprise Products Partners in the third quarter valued at about $2,628,000. 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 period. Finally, Peapack Gladstone Financial Corp lifted its holdings in Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock valued at $3,954,000 after acquiring an additional 51,809 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EPD shares. Truist Financial increased their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price objective on the stock. Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four 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 company's stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average target price of $34.70.

Enterprise Products Partners Stock Down 1.3 %

Shares of EPD traded down $0.43 during trading hours on Friday, hitting $33.16. The company had a trading volume of 2,317,014 shares, compared to its average volume of 4,737,823. The company has a market capitalization of $71.87 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.38 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 L.P. has a one year low of $27.26 and a one year high of $34.63. The company's fifty day moving average price is $32.60 and its two-hundred day moving average price is $30.89.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm 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 20.48% and a net margin of 10.49%. The business's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.45%. 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. Enterprise Products Partners's payout ratio is presently 79.55%.

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.