Heritage Trust Co Acquires Shares of 12,812 Enterprise Products Partners L.P. (NYSE:EPD)

Heritage Trust Co purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,812 shares of the oil and gas producer's stock, valued at approximately $402,000.

A number of other institutional investors and hedge funds also recently modified their holdings of EPD. Verity & Verity LLC lifted its holdings in Enterprise Products Partners by 30.8% during the 4th 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 last quarter. Spinnaker Trust bought a new position in Enterprise Products Partners during the 4th quarter valued at $280,000. FourThought Financial Partners LLC increased its holdings in Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock worth $4,407,000 after buying an additional 21,970 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock valued at $3,954,000 after buying an additional 51,809 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Enterprise Products Partners by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock worth $9,726,000 after purchasing an additional 21,192 shares during the period. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

EPD stock traded up $0.33 during midday trading on Wednesday, hitting $31.26. 1,264,435 shares of the company traded hands, compared to its average volume of 4,364,707. 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 stock has a market capitalization of $67.70 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The business has a 50 day simple moving average of $32.75 and a 200-day simple moving average of $31.86. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company earned $0.72 EPS. The firm's revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.85%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners's payout ratio is presently 79.55%.

Analyst Ratings Changes

A number of research firms have issued reports on EPD. Wells Fargo & Company cut 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 research report on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Barclays upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Truist Financial increased their price target on 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, JPMorgan Chase & Co. raised their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average target price of $36.89.

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.