LPL Financial LLC Has $104.31 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

LPL Financial LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,326,224 shares of the oil and gas producer’s stock after purchasing an additional 321,145 shares during the period. LPL Financial LLC owned approximately 0.15% of Enterprise Products Partners worth $104,310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Rosenberg Matthew Hamilton boosted its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the period. Tidemark LLC boosted its stake in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new stake in Enterprise Products Partners during the fourth quarter worth approximately $29,000. Bangor Savings Bank increased its stake in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at $40,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Truist Financial raised their target price 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. Scotiabank upped their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Morgan Stanley lifted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.90.

Enterprise Products Partners Price Performance

Shares of EPD opened at $33.51 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $72.57 billion, a PE ratio of 12.46, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The business has a 50-day simple moving average of $33.43 and a two-hundred day simple moving average of $31.64.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 79.55%.

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.