Intellus Advisors LLC Purchases New Position in Enterprise Products Partners L.P. (NYSE:EPD)

Intellus Advisors LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 62,089 shares of the oil and gas producer's stock, valued at approximately $1,947,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Kayne Anderson Capital Advisors LP boosted its position in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after acquiring an additional 1,947,017 shares in the last quarter. Barclays PLC boosted its position in shares of 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 valued at $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. FMR LLC grew its stake 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 worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Merewether Investment Management LP purchased a new position in Enterprise Products Partners during the third quarter valued at $30,746,000. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Enterprise Products Partners by 3,884.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer's stock valued at $21,414,000 after buying an additional 665,716 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages recently issued reports on EPD. Barclays increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Wells Fargo & Company cut Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Truist Financial raised their price objective on shares of 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, Scotiabank increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.90.

Enterprise Products Partners Price Performance

Shares of EPD stock traded down $0.14 during mid-day trading on Tuesday, hitting $33.55. The company had a trading volume of 1,582,856 shares, compared to its average volume of 4,702,298. The company has a market capitalization of $72.65 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.37 and a beta of 1.08. The stock's 50 day moving average price is $33.43 and its 200-day moving average price is $31.61. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week 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.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 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 the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business's revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.38%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. 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.