Fisher Funds Management LTD Acquires New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Fisher Funds Management LTD bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, Holdings Channel.com reports. The fund bought 432,735 shares of the oil and gas producer’s stock, valued at approximately $13,599,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Rosenberg Matthew Hamilton increased its position in 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 worth $26,000 after buying an additional 656 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Enterprise Products Partners by 19,800.0% during 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 during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $36,000. Bangor Savings Bank boosted its position in Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $40,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $33.41 on Friday. The firm has a market cap of $72.41 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The firm’s 50-day simple moving average is $32.63 and its 200-day simple moving average is $30.95. Enterprise Products Partners L.P. has a twelve month low of $27.26 and a twelve month high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.41%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analyst Ratings Changes

A number of analysts have recently weighed in on EPD shares. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday. Truist Financial increased their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.