82,642 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Corps Capital Advisors LLC

Corps Capital Advisors LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 82,642 shares of the oil and gas producer’s stock, valued at approximately $2,592,000. Enterprise Products Partners comprises 2.6% of Corps Capital Advisors LLC’s investment portfolio, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Verity & Verity LLC raised its holdings in Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after purchasing an additional 26,032 shares during the last quarter. Spinnaker Trust purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $280,000. Paragon Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth about $2,628,000. FMR LLC boosted 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 buying an additional 1,225,988 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its stake in Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after acquiring an additional 51,809 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EPD shares. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Truist Financial lifted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Four equities 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. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Trading Down 0.3 %

Shares of EPD stock opened at $33.62 on Thursday. Enterprise Products Partners L.P. has a 1-year low of $27.20 and a 1-year high of $34.63. The firm’s 50-day simple moving average is $32.58 and its 200-day simple moving average is $30.88. The firm has a market cap of $72.86 billion, a P/E ratio of 12.50, a PEG ratio of 1.57 and a beta of 1.09. 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 (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared 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 represents a $2.14 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 79.55%.

About Enterprise Products Partners

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.