Evanson Asset Management LLC Acquires 306 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Evanson Asset Management LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,470 shares of the oil and gas producer’s stock after buying an additional 306 shares during the quarter. Evanson Asset Management LLC’s holdings in Enterprise Products Partners were worth $2,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lbmc Investment Advisors LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth $220,000. Kelly Financial Services LLC bought a new stake in Enterprise Products Partners during the 4th quarter worth $376,000. Oak Ridge Investments LLC acquired a new position in Enterprise Products Partners in the 4th quarter worth about $204,000. Wealth Alliance Advisory Group LLC raised its position in Enterprise Products Partners by 12.4% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 16,975 shares of the oil and gas producer’s stock valued at $532,000 after purchasing an additional 1,878 shares during the last quarter. Finally, Sandbox Financial Partners LLC boosted its stake in shares of Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.2 %

NYSE EPD opened at $33.60 on Monday. The stock has a market capitalization of $72.82 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.57 and a beta of 1.09. The business has a 50 day simple moving average of $32.07 and a 200 day simple moving average of $30.23. 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 L.P. has a one year low of $26.12 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the business earned $0.60 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Scotiabank assumed coverage on 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. Finally, 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 report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.60.

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.