Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 15,441 shares of the oil and gas producer’s stock after acquiring an additional 723 shares during the quarter. Fifth Third Bancorp’s holdings in Enterprise Products Partners were worth $484,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of EPD. Trust Co. of Vermont raised its stake in Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 300 shares during the period. Evanson Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after purchasing an additional 306 shares during the last quarter. Sandbox Financial Partners LLC raised its position in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 309 shares during the period. Armstrong Advisory Group Inc. lifted its holdings in shares of Enterprise Products Partners by 4.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 8,161 shares of the oil and gas producer’s stock worth $256,000 after purchasing an additional 329 shares during the last quarter. Finally, Curi RMB Capital LLC grew its stake in Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after buying an additional 339 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $33.98 on Friday. 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 business’s 50-day moving average price is $32.50 and its 200 day moving average price is $30.49. Enterprise Products Partners L.P. has a 52-week low of $26.12 and a 52-week high of $34.63. The firm has a market cap of $73.64 billion, a P/E ratio of 12.72, a PEG ratio of 1.60 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed 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 6.30%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 80.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EPD shares. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank assumed coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Truist Financial boosted their price objective 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. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.