WP Advisors LLC Boosts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

WP Advisors LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 346,315 shares of the oil and gas producer’s stock after purchasing an additional 8,766 shares during the period. Enterprise Products Partners comprises 3.6% of WP Advisors LLC’s investment portfolio, making the stock its 6th biggest position. WP Advisors LLC’s holdings in Enterprise Products Partners were worth $10,860,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Rosenberg Matthew Hamilton increased its stake in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares during the period. Assetmark Inc. increased its stake 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 valued at $35,000 after acquiring an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners during the third quarter valued at about $36,000. Bangor Savings Bank increased its stake in Enterprise Products Partners by 558.3% during the fourth 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, New Wave Wealth Advisors LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at about $40,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on EPD shares. Truist Financial boosted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Scotiabank started coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Stock Down 0.3 %

Shares of EPD opened at $33.54 on Friday. The company has a market capitalization of $72.69 billion, a P/E ratio of 12.47, a PEG ratio of 1.38 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a one year low of $27.26 and a one year high of $34.63. The business’s 50 day simple moving average is $32.60 and its 200-day simple moving average is $30.89.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.38%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 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.