Sonora Investment Management Group LLC Acquires 7,550 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Sonora Investment Management Group LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,554 shares of the oil and gas producer's stock after buying an additional 7,550 shares during the period. Sonora Investment Management Group LLC's holdings in Enterprise Products Partners were worth $2,087,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pathway Financial Advisers LLC boosted its holdings in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. Barclays PLC lifted its holdings in Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock worth $73,699,000 after buying an additional 1,326,010 shares during the period. International Assets Investment Management LLC grew its position in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer's stock worth $37,474,000 after buying an additional 1,243,741 shares during the last quarter. FMR LLC increased its stake in shares of Enterprise Products Partners by 9.3% during 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 buying an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP bought a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $30,746,000. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Up 1.7 %

NYSE:EPD traded up $0.57 during trading hours on Monday, reaching $33.22. 7,468,011 shares of the company traded hands, compared to its average volume of 4,825,533. 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's 50-day moving average price is $32.53 and its two-hundred day moving average price is $30.54. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63. The stock has a market capitalization of $72.00 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's payout ratio is currently 80.15%.

Analysts Set New Price Targets

Several analysts recently weighed in on EPD shares. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price target on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wolfe Research lowered shares of 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 on the stock. in a report on Wednesday, December 18th. Finally, Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $34.44.

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.