Mcdaniel Terry & Co. Invests $245,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Mcdaniel Terry & Co. purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,820 shares of the oil and gas producer's stock, valued at approximately $245,000.

Several other hedge funds also recently added to or reduced their stakes in EPD. FMR LLC boosted its stake in shares of 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 purchasing an additional 1,225,988 shares during the period. Pathway Financial Advisers LLC boosted its position in Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock valued at $225,777,000 after buying an additional 7,494,224 shares during the last quarter. Hamlin Capital Management LLC grew its stake in shares of Enterprise Products Partners by 0.5% during the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer's stock valued at $143,336,000 after acquiring an additional 24,335 shares in the last quarter. Brookfield Corp ON increased its position in shares of Enterprise Products Partners by 6.2% during the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer's stock worth $138,639,000 after acquiring an additional 278,892 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Enterprise Products Partners by 5.2% in 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 purchasing an additional 200,625 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

NYSE EPD traded down $0.12 during trading hours on Friday, reaching $33.46. The company's stock had a trading volume of 2,825,615 shares, compared to its average volume of 4,749,041. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The business has a 50-day simple moving average of $32.60 and a 200 day simple moving average of $30.89. Enterprise Products Partners L.P. has a 52 week low of $27.26 and a 52 week high of $34.63. The stock has a market cap of $72.53 billion, a PE ratio of 12.44, a PEG ratio of 1.38 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate 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 was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared 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 is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.40%. Enterprise Products Partners's payout ratio is 79.55%.

Wall Street Analysts Forecast Growth

EPD has been the topic of several analyst reports. Citigroup lifted their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Wells Fargo & Company downgraded 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 note on Wednesday, December 18th. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a "sector perform" rating and a $33.00 price target on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.70.

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.