Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Ballast Advisors LLC

Ballast Advisors LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 309,182 shares of the oil and gas producer’s stock after acquiring an additional 4,060 shares during the quarter. Enterprise Products Partners comprises about 3.0% of Ballast Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Ballast Advisors LLC’s holdings in Enterprise Products Partners were worth $9,696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP boosted its position in shares of Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. Barclays PLC boosted its holdings in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after buying an additional 1,326,010 shares in the last quarter. FMR LLC grew its position in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Merewether Investment Management LP bought a new position in shares of Enterprise Products Partners in the third quarter valued at $30,746,000. Finally, Strategic Financial Concepts LLC lifted its position in shares of Enterprise Products Partners by 3,884.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after acquiring an additional 665,716 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD opened at $34.10 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The stock has a fifty day moving average price of $33.38 and a 200 day moving average price of $31.51. The stock has a market cap of $73.85 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 79.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EPD. Barclays boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. 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 for the company. in a research note on Wednesday, December 18th. Morgan Stanley lifted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Truist Financial boosted their target price 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. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $35.90.

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.