Klingenstein Fields & Co. LP Purchases Shares of 6,468 Enterprise Products Partners L.P. (NYSE:EPD)

Klingenstein Fields & Co. LP purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,468 shares of the oil and gas producer’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently bought and sold shares of EPD. Rosenberg Matthew Hamilton lifted its position in shares of Enterprise Products Partners by 364.4% in 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 last quarter. DiNuzzo Private Wealth Inc. raised its holdings in 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 valued at $32,000 after acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. raised 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 acquiring an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners in the 3rd quarter valued at $36,000. Finally, Bangor Savings Bank raised 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 acquiring an additional 1,072 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 0.9 %

NYSE EPD opened at $33.22 on Friday. The business’s 50-day moving average price is $32.48 and its two-hundred day moving average price is $30.72. Enterprise Products Partners L.P. has a 12 month low of $26.49 and a 12 month high of $34.63. The firm has a market capitalization of $72.00 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. 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 (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue was down 2.9% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.87 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. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.44%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 79.55%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EPD. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Wells Fargo & Company lowered 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 note on Wednesday, December 18th. Finally, Wolfe Research lowered 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

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.