Sound View Wealth Advisors Group LLC Grows Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Sound View Wealth Advisors Group LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 252,162 shares of the oil and gas producer’s stock after acquiring an additional 1,900 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Enterprise Products Partners were worth $7,908,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its holdings in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $36,000. Bangor Savings Bank boosted its holdings in shares of Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter valued at $40,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 2.1 %

EPD stock opened at $33.43 on Friday. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The company’s 50 day simple moving average is $33.06 and its 200-day simple moving average is $31.25. 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 market capitalization of $72.40 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced 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 company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.40%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Analysts Set New Price Targets

Several research firms recently weighed in on EPD. Scotiabank lifted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.90.

About Enterprise Products Partners

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.