United Asset Strategies Inc. Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

United Asset Strategies Inc. grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,172 shares of the oil and gas producer’s stock after buying an additional 1,506 shares during the period. United Asset Strategies Inc.’s holdings in Enterprise Products Partners were worth $611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. raised its holdings in shares of Enterprise Products Partners by 8.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after purchasing an additional 371 shares during the last quarter. Ellsworth Advisors LLC grew its position in Enterprise Products Partners by 1.9% during the third quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock valued at $573,000 after buying an additional 380 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Enterprise Products Partners by 3.3% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock valued at $328,000 after purchasing an additional 386 shares during the period. Register Financial Advisors LLC grew its position in shares of Enterprise Products Partners by 2.3% in the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after purchasing an additional 397 shares during the period. Finally, Your Advocates Ltd. LLP grew its position in shares of Enterprise Products Partners by 1.9% in the third quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock valued at $615,000 after purchasing an additional 412 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Scotiabank boosted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Barclays boosted their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Finally, Truist Financial boosted their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners Stock Up 0.2 %

Shares of NYSE:EPD opened at $28.40 on Thursday. The stock has a market cap of $61.57 billion, a P/E ratio of 11.27 and a beta of 1.02. The firm has a fifty day moving average price of $28.27 and a 200 day moving average price of $27.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. Enterprise Products Partners’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.25%. Enterprise Products Partners’s payout ratio is currently 81.75%.

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.