Independent Advisor Alliance Boosts Stake in Enterprise Products Partners L.P. $EPD

Independent Advisor Alliance lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 41.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 188,658 shares of the oil and gas producer’s stock after purchasing an additional 55,729 shares during the period. Independent Advisor Alliance’s holdings in Enterprise Products Partners were worth $6,048,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EPD. Brighton Jones LLC lifted its stake in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after buying an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after buying an additional 3,742 shares in the last quarter. Guggenheim Capital LLC lifted its stake in shares of Enterprise Products Partners by 6.1% in the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after buying an additional 1,578 shares in the last quarter. Finally, Glenview Trust co raised its stake in Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after purchasing an additional 25,555 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on EPD shares. Truist Financial lifted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. Morgan Stanley reaffirmed an “underweight” rating and set a $42.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, April 14th. Stifel Nicolaus lifted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group lifted their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and an average price target of $39.13.

Check Out Our Latest Stock Analysis on EPD

Insider Activity

In related news, CEO Aj Teague purchased 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $38.26 on Wednesday. The stock has a fifty day simple moving average of $37.71 and a 200-day simple moving average of $34.57. The stock has a market cap of $82.70 billion, a PE ratio of 14.17, a P/E/G ratio of 1.42 and a beta of 0.52. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $39.74. The company has a current ratio of 0.91, a quick ratio of 0.74 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Thursday, April 30th. Enterprise Products Partners’s payout ratio is 81.48%.

Enterprise Products Partners Company Profile

(Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

Further Reading

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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