IFG Advisory LLC Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

IFG Advisory LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,391 shares of the oil and gas producer’s stock after purchasing an additional 7,016 shares during the quarter. IFG Advisory LLC’s holdings in Enterprise Products Partners were worth $1,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY raised its holdings in Enterprise Products Partners by 7.1% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 3,189,590 shares of the oil and gas producer’s stock worth $87,299,000 after acquiring an additional 210,603 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in Enterprise Products Partners by 8.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after acquiring an additional 3,075 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $3,793,000. U.S. Capital Wealth Advisors LLC grew its stake in shares of Enterprise Products Partners by 16.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,794,073 shares of the oil and gas producer’s stock worth $49,104,000 after acquiring an additional 254,175 shares during the period. Finally, CFM Wealth Partners LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $3,739,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.1 %

EPD stock opened at $29.05 on Thursday. The firm has a market cap of $62.98 billion, a PE ratio of 11.53 and a beta of 1.02. The firm has a fifty day moving average price of $27.51 and a 200 day moving average price of $27.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.25.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.64 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a $0.515 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a yield of 7.09%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Mizuho boosted their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays upped their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $32.55.

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.