SVB Wealth LLC Takes $308,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

SVB Wealth LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,806 shares of the oil and gas producer's stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock valued at $26,000 after buying an additional 656 shares during the last quarter. Assetmark Inc. grew its holdings in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock valued at $35,000 after buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at approximately $36,000. Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer's stock valued at $40,000 after buying an additional 1,072 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research analyst reports. 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 report on Friday, January 3rd. Wells Fargo & Company lowered 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. Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Scotiabank raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average price target of $34.90.

Remove Ads

Enterprise Products Partners Trading Up 2.1 %

EPD stock traded up $0.68 during trading on Friday, hitting $33.43. The company had a trading volume of 6,028,329 shares, compared to its average volume of 4,889,962. 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 firm has a 50-day moving average price of $33.06 and a 200-day moving average price of $31.25. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The stock has a market cap of $72.40 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, 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. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.40%. Enterprise Products Partners's payout ratio is presently 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.