Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Synergy Asset Management LLC

Synergy Asset Management LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 117.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,990 shares of the oil and gas producer's stock after acquiring an additional 153,912 shares during the quarter. Synergy Asset Management LLC's holdings in Enterprise Products Partners were worth $8,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton increased its stake in shares of Enterprise Products Partners by 364.4% during the fourth 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 period. DiNuzzo Private Wealth Inc. raised its position in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its stake 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 worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the 3rd quarter valued at about $36,000. Finally, Bangor Savings Bank lifted its stake in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer's stock worth $40,000 after buying an additional 1,072 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on EPD shares. Scotiabank began coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 target price for the company. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wolfe Research cut shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Finally, Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective on the stock. Four research 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 stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.60.

Enterprise Products Partners Price Performance

NYSE:EPD traded up $0.33 during trading hours on Thursday, reaching $33.98. 9,694,270 shares of the company were exchanged, compared to its average volume of 4,569,184. 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 L.P. has a twelve month low of $26.12 and a twelve month high of $34.63. The firm has a market cap of $73.64 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. The stock's 50-day moving average is $32.50 and its 200-day moving average is $30.49.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.30%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 80.15%.

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.