Enterprise Products Partners L.P. (NYSE:EPD) Stake Increased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,490 shares of the oil and gas producer’s stock after purchasing an additional 38,167 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Enterprise Products Partners were worth $6,789,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Verity & Verity LLC boosted its holdings in Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after purchasing an additional 26,032 shares during the period. Spinnaker Trust acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at $280,000. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners during the third quarter valued at $2,628,000. FMR LLC boosted its holdings in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its holdings in shares of Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after acquiring an additional 51,809 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $33.62 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $32.58 and its two-hundred day moving average price is $30.88. Enterprise Products Partners L.P. has a 52 week low of $27.20 and a 52 week high of $34.63. The stock has a market cap of $72.86 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the business earned $0.72 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. 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 6.37%. Enterprise Products Partners’s payout ratio is 79.55%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EPD shares. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Scotiabank started coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Citigroup boosted their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.70.

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.