Sequoia Financial Advisors LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sequoia Financial Advisors LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 43.3% during the 4th quarter, HoldingsChannel reports. The firm owned 64,032 shares of the oil and gas producer’s stock after buying an additional 19,342 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. HighTower Advisors LLC boosted its position in Enterprise Products Partners by 1.0% in the 4th quarter. HighTower Advisors LLC now owns 3,136,870 shares of the oil and gas producer’s stock worth $98,372,000 after purchasing an additional 31,848 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of Enterprise Products Partners by 4.4% during the 4th quarter. Moors & Cabot Inc. now owns 408,501 shares of the oil and gas producer’s stock worth $12,811,000 after buying an additional 17,263 shares during the period. Cascade Financial Partners LLC raised its stake in shares of Enterprise Products Partners by 2.6% during the 4th quarter. Cascade Financial Partners LLC now owns 36,735 shares of the oil and gas producer’s stock worth $1,152,000 after buying an additional 926 shares during the period. Avantax Planning Partners Inc. raised its stake in shares of Enterprise Products Partners by 1.4% during the 4th quarter. Avantax Planning Partners Inc. now owns 23,348 shares of the oil and gas producer’s stock worth $732,000 after buying an additional 330 shares during the period. Finally, Briaud Financial Planning Inc acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $62,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.7 %

NYSE EPD opened at $33.54 on Friday. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. 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 fifty day simple moving average is $33.23 and its 200-day simple moving average is $31.38. The firm has a market cap of $72.63 billion, a PE ratio of 12.47, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly 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. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business 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 annualized dividend and a dividend yield of 6.38%. 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 currently 79.55%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Scotiabank upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Wells Fargo & Company downgraded 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. Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley raised their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday. Four research 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’s stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

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.