Uniting Wealth Partners LLC Buys New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Uniting Wealth Partners LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 8,160 shares of the oil and gas producer’s stock, valued at approximately $256,000.

Other institutional investors have also recently bought and sold shares of the company. Verity & Verity LLC increased its holdings in shares of Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after acquiring an additional 26,032 shares during the last quarter. Spinnaker Trust bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at about $280,000. FourThought Financial Partners LLC lifted its stake in shares of Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after buying an additional 21,970 shares during the last quarter. Peapack Gladstone Financial Corp boosted its holdings in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after buying an additional 51,809 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in Enterprise Products Partners by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock valued at $9,726,000 after buying an additional 21,192 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $34.06 on Thursday. The company’s 50 day moving average price is $33.47 and its two-hundred day moving average price is $31.83. The firm has a market capitalization of $73.76 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $35.62. 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 (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating 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 company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the business posted $0.72 EPS. Enterprise Products Partners’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.28%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Analyst Ratings Changes

EPD has been the subject of a number of research analyst reports. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Scotiabank boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

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.