Mills Wealth Advisors LLC Takes $291,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Mills Wealth Advisors LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 9,279 shares of the oil and gas producer’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its holdings in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares during the last quarter. Assetmark Inc. raised its position 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 during the period. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners in the third quarter worth about $36,000. Bangor Savings Bank boosted its position in shares of 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 valued at $40,000 after buying an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $40,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD opened at $32.85 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. 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 market cap of $71.19 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a 50 day moving average of $32.80 and a two-hundred day moving average of $31.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share 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 paid a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.52%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research analyst reports. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Truist Financial lifted their target price 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. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.70.

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.