Sage Investment Counsel LLC Takes $1.41 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sage Investment Counsel LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 44,884 shares of the oil and gas producer's stock, valued at approximately $1,408,000. Enterprise Products Partners accounts for about 1.8% of Sage Investment Counsel LLC's portfolio, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Verity & Verity LLC raised its position in shares of Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock worth $3,470,000 after acquiring an additional 26,032 shares in the last quarter. Spinnaker Trust bought a new stake in Enterprise Products Partners in the fourth quarter worth approximately $280,000. FourThought Financial Partners LLC lifted its stake in Enterprise Products Partners by 18.5% in the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock valued at $4,407,000 after buying an additional 21,970 shares during the period. Paragon Advisors LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $2,628,000. Finally, FMR LLC grew its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock worth $420,037,000 after buying an additional 1,225,988 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 1.1 %

Enterprise Products Partners stock traded down $0.37 during trading on Tuesday, hitting $33.36. 4,695,377 shares of the company were exchanged, compared to its average volume of 4,850,584. The company has a market capitalization of $72.31 billion, a P/E ratio of 12.41, a PEG ratio of 1.37 and a beta of 1.09. The business's 50 day moving average is $32.91 and its 200 day moving average is $31.16. 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 current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its 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 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 analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business's revenue was down 2.9% compared to the same quarter last year. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's payout ratio is presently 79.55%.

Analysts Set New Price Targets

Several research analysts recently issued reports on EPD shares. 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 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. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 target price for the company. Truist Financial upped their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Finally, Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus 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.