SVB Wealth LLC Acquires Shares of 9,806 Enterprise Products Partners L.P. (NYSE:EPD)

SVB Wealth LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 9,806 shares of the oil and gas producer’s stock, valued at approximately $308,000.

Other institutional investors have also recently bought and sold shares of the company. Verity & Verity LLC raised its position in Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after purchasing an additional 26,032 shares during the last quarter. Spinnaker Trust bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth $280,000. FourThought Financial Partners LLC raised its position in shares of Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after acquiring an additional 21,970 shares during the last quarter. Paragon Advisors LLC bought a new stake in shares of Enterprise Products Partners during the third quarter worth $2,628,000. Finally, FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.4 %

NYSE EPD opened at $33.18 on Thursday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $71.85 billion, a PE ratio of 12.33, a P/E/G ratio of 1.37 and a beta of 1.08. The stock has a 50-day simple moving average of $32.98 and a 200 day simple moving average of $31.20.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.45%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EPD. Truist Financial boosted 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. Scotiabank began 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. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Four investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners 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.