Avantax Planning Partners Inc. Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Avantax Planning Partners Inc. lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,348 shares of the oil and gas producer’s stock after purchasing an additional 330 shares during the period. Avantax Planning Partners Inc.’s holdings in Enterprise Products Partners were worth $732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rosenberg Matthew Hamilton increased its stake 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 worth $26,000 after purchasing an additional 656 shares in the last quarter. Assetmark Inc. increased its stake in shares of Enterprise Products Partners by 19,800.0% in the third 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 in the last quarter. Bangor Savings Bank increased its stake in shares of Enterprise Products Partners by 558.3% in 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 in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth $40,000. Finally, GHP Investment Advisors Inc. boosted its position in shares of Enterprise Products Partners by 32.5% during the fourth quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 325 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Scotiabank upped their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Finally, Morgan Stanley upped their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Four research 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 company’s stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $35.30.

Enterprise Products Partners Price Performance

EPD stock opened at $33.18 on Wednesday. The company has a fifty day simple moving average of $33.14 and a two-hundred day simple moving average of $31.33. The firm has a market capitalization of $71.85 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. 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 52 week low of $27.37 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate 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 net margin of 10.49% and a return on equity of 20.48%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. 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 6.45%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

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.