Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Delta Investment Management LLC

Delta Investment Management LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 10.2% during the 4th quarter, Holdings Channel reports. The fund owned 277,378 shares of the oil and gas producer’s stock after acquiring an additional 25,638 shares during the quarter. Enterprise Products Partners comprises 1.8% of Delta Investment Management LLC’s portfolio, making the stock its 16th largest holding. Delta Investment Management LLC’s holdings in Enterprise Products Partners were worth $7,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. increased its position in Enterprise Products Partners by 8.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after acquiring an additional 371 shares during the period. Ellsworth Advisors LLC boosted its stake in Enterprise Products Partners by 1.9% during the 3rd quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 380 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Enterprise Products Partners by 3.3% during the 3rd 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 in the last quarter. Register Financial Advisors LLC boosted its stake in Enterprise Products Partners by 2.3% during the 4th 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 in the last quarter. Finally, Your Advocates Ltd. LLP boosted its stake in Enterprise Products Partners by 1.9% during the 3rd 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 in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $29.06 on Friday. The stock has a market cap of $63.01 billion, a PE ratio of 11.53 and a beta of 1.02. The business has a fifty day simple moving average of $28.58 and a 200-day simple moving average of $27.33. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99.

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

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is 81.75%.

Analysts Set New Price Targets

A number of brokerages have issued reports on EPD. Stifel Nicolaus increased their price target on 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 price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Scotiabank raised their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Finally, Truist Financial raised their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.58.

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.