Leo Wealth LLC Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Leo Wealth LLC grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 22.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,796 shares of the oil and gas producer’s stock after buying an additional 4,717 shares during the period. Leo Wealth LLC’s holdings in Enterprise Products Partners were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Consolidated Portfolio Review Corp purchased a new position in Enterprise Products Partners in the 4th quarter valued at approximately $2,706,000. GHP Investment Advisors Inc. grew its position in shares of Enterprise Products Partners by 32.5% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 325 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Enterprise Products Partners by 6.6% during the 4th quarter. Bleakley Financial Group LLC now owns 22,111 shares of the oil and gas producer’s stock valued at $693,000 after purchasing an additional 1,375 shares during the period. Inman Jager Wealth Management LLC purchased a new stake in Enterprise Products Partners during the 4th quarter worth about $226,000. Finally, Tyche Wealth Partners LLC boosted its stake in Enterprise Products Partners by 3.2% in the 4th quarter. Tyche Wealth Partners LLC now owns 32,226 shares of the oil and gas producer’s stock worth $1,011,000 after purchasing an additional 1,007 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.3 %

Shares of NYSE EPD opened at $32.96 on Friday. The stock has a market capitalization of $71.45 billion, a P/E ratio of 12.35, a PEG ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a one year low of $26.14 and a one year high of $34.63. The firm’s 50 day simple moving average is $32.52 and its two-hundred day simple moving average is $30.62. 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 released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.49%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EPD shares. Scotiabank started coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. 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 stock. Based on data from MarketBeat, Enterprise Products Partners has an average 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.