Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by TIAA Trust National Association

TIAA Trust National Association boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,911 shares of the oil and gas producer’s stock after buying an additional 3,384 shares during the quarter. TIAA Trust National Association’s holdings in Enterprise Products Partners were worth $1,032,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its stake in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares during the last quarter. Tidemark LLC boosted its stake in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $30,000. Finally, Bangor Savings Bank lifted its stake in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.96 on Friday. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm’s 50 day moving average price is $33.45 and its 200-day moving average price is $31.67. The firm has a market cap of $73.54 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released 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. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $0.72 earnings per share. As a group, equities research analysts predict 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 given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.30%. 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. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Analyst Ratings Changes

EPD has been the subject of a number of recent research reports. 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 reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Morgan Stanley raised their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Scotiabank boosted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $36.60.

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.