AM Investment Strategies LLC Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

AM Investment Strategies LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 105,087 shares of the oil and gas producer’s stock after purchasing an additional 1,543 shares during the quarter. Enterprise Products Partners comprises about 0.8% of AM Investment Strategies LLC’s holdings, making the stock its 23rd biggest holding. AM Investment Strategies LLC’s holdings in Enterprise Products Partners were worth $2,788,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI boosted its holdings in shares of Enterprise Products Partners by 5.5% during the 3rd quarter. National Bank of Canada FI now owns 32,828 shares of the oil and gas producer’s stock valued at $887,000 after acquiring an additional 1,726 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $604,000. Strategic Blueprint LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $224,000. Hennessy Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 5.4% during the 3rd quarter. Hennessy Advisors Inc. now owns 221,400 shares of the oil and gas producer’s stock valued at $6,060,000 after acquiring an additional 11,400 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC boosted its holdings in shares of Enterprise Products Partners by 1.7% during the 3rd quarter. Galvin Gaustad & Stein LLC now owns 30,571 shares of the oil and gas producer’s stock valued at $837,000 after acquiring an additional 503 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

NYSE EPD traded down $0.13 on Thursday, reaching $28.92. The company had a trading volume of 4,653,249 shares, compared to its average volume of 4,938,114. The stock has a market capitalization of $62.71 billion, a PE ratio of 11.48 and a beta of 1.02. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average price is $28.55 and its 200 day moving average price is $27.32.

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

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.12%. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

Analyst Ratings Changes

EPD has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Mizuho reiterated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Scotiabank increased their price objective on shares of 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 increased their price objective on shares of 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 analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target 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.