Summit Financial LLC Buys 110,768 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Summit Financial LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 350.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,400 shares of the oil and gas producer's stock after purchasing an additional 110,768 shares during the quarter. Summit Financial LLC's holdings in Enterprise Products Partners were worth $4,466,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of EPD. Trust Co. of Vermont lifted its position in Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock worth $104,000 after purchasing an additional 300 shares during the period. Griffin Asset Management Inc. lifted its holdings in shares of Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock valued at $1,203,000 after buying an additional 305 shares during the period. Evanson Asset Management LLC boosted its stake in Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock valued at $2,304,000 after buying an additional 306 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock worth $78,000 after acquiring an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC raised its position in Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock worth $317,000 after acquiring an additional 309 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EPD. Truist Financial boosted 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. Scotiabank increased their price objective on 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. Barclays lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Wolfe Research downgraded shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $36.60.

Enterprise Products Partners Stock Down 7.9 %

EPD traded down $2.64 during trading on Friday, reaching $30.83. 14,901,210 shares of the stock traded hands, compared to its average volume of 4,250,934. The stock's 50-day simple moving average is $33.41 and its two-hundred day simple moving average is $31.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The stock has a market cap of $66.76 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm's revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.94%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio (DPR) is currently 79.55%.

Enterprise Products Partners Company 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.