Stratos Wealth Partners LTD. Buys 30,528 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Stratos Wealth Partners LTD. lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 17.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 203,147 shares of the oil and gas producer’s stock after purchasing an additional 30,528 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Enterprise Products Partners were worth $6,371,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. FMR LLC grew its position in Enterprise Products Partners by 9.3% in the 3rd 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 last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Hamlin Capital Management LLC increased its stake in Enterprise Products Partners by 0.5% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after buying an additional 24,335 shares during the period. Brookfield Corp ON lifted its holdings in Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after buying an additional 278,892 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank started coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Finally, Truist Financial increased their price objective 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 investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.44.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.19 on Thursday. The business has a fifty day moving average of $32.55 and a 200 day moving average of $30.59. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63. 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 $71.94 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. During the same period last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current 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 issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.45%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

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.