Stokes Family Office LLC Has $541,000 Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Stokes Family Office LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,240 shares of the oil and gas producer’s stock after acquiring an additional 1,650 shares during the quarter. Stokes Family Office LLC’s holdings in Enterprise Products Partners were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Assetmark Inc. increased its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Caprock Group LLC acquired a new position in Enterprise Products Partners during the third quarter worth $1,943,000. Tranquility Partners LLC increased its position in Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after buying an additional 346 shares during the last quarter. BIP Wealth LLC acquired a new position in Enterprise Products Partners during the third quarter worth $614,000. Finally, Avior Wealth Management LLC increased its position in Enterprise Products Partners by 46.2% during the third quarter. Avior Wealth Management LLC now owns 17,409 shares of the oil and gas producer’s stock worth $507,000 after buying an additional 5,500 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on EPD. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Barclays upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Stock Down 0.4 %

NYSE EPD opened at $33.80 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a 50-day simple moving average of $33.31 and a 200 day simple moving average of $31.48. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The stock has a market cap of $73.20 billion, a PE ratio of 12.57, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 10.49% and a return on equity of 20.48%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. On average, 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 declared 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. 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. This represents a $2.14 dividend on an annualized basis and a yield of 6.33%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

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.