Wescott Financial Advisory Group LLC Buys New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

Wescott Financial Advisory Group LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,831 shares of the oil and gas producer’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Enterprise Products Partners by 16.7% in 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 buying an additional 1,947,017 shares in the last quarter. Barclays PLC increased its holdings in Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Enterprise Products Partners by 3,884.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after purchasing an additional 665,716 shares during the last quarter. Fisher Funds Management LTD purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at about $13,599,000. Finally, LPL Financial LLC grew its position in shares of 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 valued at $104,310,000 after purchasing an additional 321,145 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $30.83 on Friday. 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 market capitalization of $66.76 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.37 and a beta of 0.78. The firm’s 50-day moving average is $33.41 and its 200 day moving average is $31.85.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating 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 analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Research analysts predict 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. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.94%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EPD shares. Morgan Stanley increased their price target on 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. Truist Financial raised their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.89.

About Enterprise Products Partners

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.