Moors & Cabot Inc. Purchases 17,263 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Moors & Cabot Inc. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 4.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 408,501 shares of the oil and gas producer's stock after purchasing an additional 17,263 shares during the period. Moors & Cabot Inc.'s holdings in Enterprise Products Partners were worth $12,811,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EPD. Verity & Verity LLC grew its position in shares of 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 valued at $3,470,000 after acquiring an additional 26,032 shares during the period. Spinnaker Trust purchased a new stake in shares of Enterprise Products Partners during the 4th quarter valued at approximately $280,000. FourThought Financial Partners LLC lifted its stake in Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock worth $4,407,000 after purchasing an additional 21,970 shares in the last quarter. Paragon Advisors LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $2,628,000. Finally, FMR LLC lifted its stake in Enterprise Products Partners by 9.3% in the 3rd 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 in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 1.4 %

Shares of Enterprise Products Partners stock opened at $33.18 on Wednesday. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The company has a market cap of $71.85 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. 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 company's 50 day moving average is $33.14 and its 200 day moving average is $31.33.

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Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same period in the prior year, the company posted $0.72 earnings per share. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. 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 dividend on an annualized basis and a dividend yield of 6.45%. Enterprise Products Partners's dividend payout ratio is currently 79.55%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday. Wolfe Research cut shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Scotiabank raised their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. 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 report on Friday, January 3rd. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Four equities research 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.30.

Enterprise Products Partners 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.

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