Proficio Capital Partners LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Proficio Capital Partners LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3,036.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 276,595 shares of the oil and gas producer's stock after purchasing an additional 267,775 shares during the quarter. Proficio Capital Partners LLC's holdings in Enterprise Products Partners were worth $8,674,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in EPD. Oppenheimer Asset Management Inc. lifted its position in Enterprise Products Partners by 3.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 73,636 shares of the oil and gas producer's stock worth $2,309,000 after acquiring an additional 2,162 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Enterprise Products Partners by 1.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 448,299 shares of the oil and gas producer's stock worth $14,059,000 after purchasing an additional 5,801 shares during the period. Schnieders Capital Management LLC grew its position in Enterprise Products Partners by 11.8% in the 4th quarter. Schnieders Capital Management LLC now owns 54,168 shares of the oil and gas producer's stock valued at $1,699,000 after buying an additional 5,715 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at $1,919,000. Finally, Cutter & CO Brokerage Inc. raised its position in Enterprise Products Partners by 1.4% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 668,636 shares of the oil and gas producer's stock worth $20,968,000 after buying an additional 9,152 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of EPD traded down $0.23 during trading hours on Tuesday, reaching $33.50. 2,693,880 shares of the company traded hands, compared to its average volume of 4,807,438. The stock has a market capitalization of $72.61 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. 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 fifty day simple moving average of $32.91 and a 200 day simple moving average of $31.16.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results 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. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners's revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.39%. Enterprise Products Partners's dividend payout ratio is 79.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EPD shares. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a "sector perform" rating and a $33.00 price target on the stock. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Finally, Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $34.70.

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.