Sagespring Wealth Partners LLC Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sagespring Wealth Partners LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 21,063 shares of the oil and gas producer's stock, valued at approximately $661,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its stake in shares of Enterprise Products Partners by 1.3% during the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock valued at $849,126,000 after acquiring an additional 359,288 shares in the last quarter. FMR LLC raised its position in shares of Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock valued at $462,067,000 after purchasing an additional 304,997 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock worth $426,125,000 after buying an additional 1,947,017 shares in the last quarter. LPL Financial LLC raised its holdings in Enterprise Products Partners by 10.7% in the fourth quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer's stock valued at $104,310,000 after acquiring an additional 321,145 shares in the last quarter. Finally, Miller Howard Investments Inc. NY grew its holdings in Enterprise Products Partners by 5.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer's stock worth $100,646,000 after acquiring an additional 153,083 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on EPD shares. 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 report on Friday, March 14th. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. StockNews.com raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Tuesday. Truist Financial increased their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.89.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded up $0.61 during midday trading on Friday, reaching $31.05. 3,638,730 shares of the stock traded hands, compared to its average volume of 4,369,478. The firm has a fifty day moving average price of $32.65 and a two-hundred day moving average price of $31.87. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The firm has a market cap of $67.25 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.37 and a beta of 0.78. 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 issued 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. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates 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 for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's payout ratio is currently 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.