Cottage Street Advisors LLC Raises Position in Enterprise Products Partners L.P. (NYSE:EPD)

Cottage Street Advisors LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 25.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,000 shares of the oil and gas producer’s stock after buying an additional 2,000 shares during the period. Cottage Street Advisors LLC’s holdings in Enterprise Products Partners were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EPD. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% during 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 last quarter. Tidemark LLC raised its stake in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $30,000. Finally, Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of several analyst reports. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Morgan Stanley boosted their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Wells Fargo & Company cut 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. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Scotiabank increased their price objective on shares of 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. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Stock Down 0.5 %

Shares of NYSE EPD opened at $33.51 on Wednesday. The stock has a market cap of $72.57 billion, a PE ratio of 12.46, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The company has a 50-day moving average of $33.43 and a 200 day moving average of $31.64.

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, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.39%. Enterprise Products Partners’s payout ratio is 79.55%.

Enterprise Products Partners Company 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.