Wealth Enhancement Advisory Services LLC Has $29.76 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Wealth Enhancement Advisory Services LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,022,342 shares of the oil and gas producer’s stock after acquiring an additional 60,953 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Enterprise Products Partners were worth $29,760,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. DiNuzzo Private Wealth Inc. grew its holdings in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its position in Enterprise Products Partners by 19,800.0% during the 3rd 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 period. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $36,000. Bangor Savings Bank increased its position in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 1,072 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of Enterprise Products Partners during the third quarter valued at $49,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.7 %

NYSE:EPD opened at $32.21 on Friday. Enterprise Products Partners L.P. has a 12 month low of $26.12 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 stock has a market capitalization of $69.82 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.66 and a beta of 1.09. The firm has a fifty day simple moving average of $31.72 and a two-hundred day simple moving average of $30.08.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results 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 net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.64%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Analysts Set New Price Targets

EPD has been the subject of a number of recent research reports. Scotiabank started coverage on Enterprise Products Partners in a report on Friday. They issued a “sector perform” rating and a $33.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial increased their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. 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. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus 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.