Milestone Asset Management LLC Purchases 5,873 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Milestone Asset Management LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 30.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,369 shares of the oil and gas producer’s stock after purchasing an additional 5,873 shares during the quarter. Milestone Asset Management LLC’s holdings in Enterprise Products Partners were worth $796,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Bank of Montreal Can boosted its position in shares of Enterprise Products Partners by 2.3% during the second quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock worth $739,000 after purchasing an additional 570 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Enterprise Products Partners by 46.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 216,741 shares of the oil and gas producer’s stock valued at $6,281,000 after acquiring an additional 68,691 shares in the last quarter. Cetera Investment Advisers lifted its position in Enterprise Products Partners by 11.8% in the 2nd quarter. Cetera Investment Advisers now owns 901,468 shares of the oil and gas producer’s stock valued at $26,125,000 after acquiring an additional 95,189 shares in the last quarter. Creekside Partners bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $463,000. Finally, Clear Rock Advisors LLC lifted its position in Enterprise Products Partners by 8.9% in the 2nd quarter. Clear Rock Advisors LLC now owns 71,273 shares of the oil and gas producer’s stock valued at $2,065,000 after acquiring an additional 5,830 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $33.64 on Thursday. The company has a market cap of $72.91 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.60 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $32.46 and a 200 day simple moving average of $30.46. Enterprise Products Partners L.P. has a one year low of $26.12 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the company earned $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts predict that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Wall Street Analyst Weigh In

EPD has been the topic of several recent analyst reports. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

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.