Level Four Advisory Services LLC Acquires 47,035 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Level Four Advisory Services LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 71.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 113,000 shares of the oil and gas producer’s stock after buying an additional 47,035 shares during the quarter. Level Four Advisory Services LLC’s holdings in Enterprise Products Partners were worth $3,544,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vertex Planning Partners LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth about $217,000. Blair William & Co. IL increased its position in shares of Enterprise Products Partners by 0.7% during the fourth quarter. Blair William & Co. IL now owns 847,820 shares of the oil and gas producer’s stock worth $26,588,000 after acquiring an additional 6,142 shares during the period. AssuredPartners Investment Advisors LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $384,000. Cottage Street Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 25.0% in the fourth quarter. Cottage Street Advisors LLC now owns 10,000 shares of the oil and gas producer’s stock valued at $314,000 after purchasing an additional 2,000 shares during the period. Finally, Heritage Wealth Advisors increased its holdings in Enterprise Products Partners by 0.4% during the 4th quarter. Heritage Wealth Advisors now owns 371,864 shares of the oil and gas producer’s stock worth $11,662,000 after purchasing an additional 1,532 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.4 %

Shares of EPD stock opened at $34.09 on Friday. The stock’s fifty day moving average price is $33.46 and its 200 day moving average price is $31.71. 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 1-year low of $27.37 and a 1-year high of $34.63. The company has a market cap of $73.83 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted 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. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed 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. 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. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.28%. Enterprise Products Partners’s payout ratio is 79.55%.

Analysts Set New Price Targets

EPD has been the subject of several research reports. 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 report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley increased 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, 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 report on Friday, January 3rd. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

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.