Geneos Wealth Management Inc. Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Geneos Wealth Management Inc. boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.0% during the 4th quarter, Holdings Channel reports. The fund owned 25,665 shares of the oil and gas producer’s stock after buying an additional 512 shares during the period. Geneos Wealth Management Inc.’s holdings in Enterprise Products Partners were worth $805,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Pathway Financial Advisers LLC increased its holdings in 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 valued at $225,777,000 after buying an additional 7,494,224 shares during the period. Barclays PLC increased its holdings in shares of 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 valued at $73,699,000 after acquiring an additional 1,326,010 shares during the period. International Assets Investment Management LLC raised 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 acquiring an additional 1,243,741 shares in the last quarter. FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP bought a new stake in Enterprise Products Partners during the third quarter valued at about $30,746,000. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the subject of a number of recent research reports. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial raised their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Finally, Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners Stock Down 0.3 %

Enterprise Products Partners stock opened at $33.46 on Tuesday. The business’s 50-day simple moving average is $32.38 and its two-hundred day simple moving average is $30.40. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market cap of $72.52 billion, a PE ratio of 12.53, a PEG ratio of 1.60 and a beta of 1.09. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the company posted $0.60 EPS. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.40%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

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.