Prevail Innovative Wealth Advisors LLC Makes New $1.99 Million Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Prevail Innovative Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, HoldingsChannel reports. The fund bought 63,351 shares of the oil and gas producer’s stock, valued at approximately $1,987,000.

A number of other large investors have also made changes to their positions in the stock. FMR LLC raised its position in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. Brookfield Corp ON grew its stake in shares of Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after buying an additional 278,892 shares in the last quarter. Stifel Financial Corp lifted its stake in Enterprise Products Partners by 0.3% during the 3rd quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock worth $101,032,000 after acquiring an additional 9,257 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Enterprise Products Partners by 10.7% during the fourth quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock worth $104,310,000 after purchasing an additional 321,145 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EPD. Truist Financial increased their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Barclays raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Scotiabank upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Finally, Morgan Stanley lifted their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Stock Up 0.4 %

EPD stock opened at $34.09 on Friday. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The stock has a market capitalization of $73.83 billion, a P/E ratio of 12.67, a PEG ratio of 1.37 and a beta of 1.08. The company has a 50 day moving average price of $33.46 and a two-hundred day moving average price of $31.73. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company earned $0.72 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current 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 paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.28%. 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. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 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.