Root Financial Partners LLC Buys 2,869 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Root Financial Partners LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 10.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,401 shares of the oil and gas producer’s stock after purchasing an additional 2,869 shares during the period. Root Financial Partners LLC’s holdings in Enterprise Products Partners were worth $953,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC increased its holdings in Enterprise Products Partners by 34.4% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 30,801 shares of the oil and gas producer’s stock valued at $897,000 after purchasing an additional 7,891 shares during the period. FLC Capital Advisors grew its position in shares of Enterprise Products Partners by 2.8% in the 3rd quarter. FLC Capital Advisors now owns 111,860 shares of the oil and gas producer’s stock worth $3,256,000 after buying an additional 3,073 shares during the last quarter. HFG Advisors Inc. grew its position in shares of Enterprise Products Partners by 125.0% in the 3rd quarter. HFG Advisors Inc. now owns 22,050 shares of the oil and gas producer’s stock worth $642,000 after buying an additional 12,250 shares during the last quarter. Quad Cities Investment Group LLC increased its stake in shares of Enterprise Products Partners by 9.9% during the third quarter. Quad Cities Investment Group LLC now owns 32,243 shares of the oil and gas producer’s stock valued at $939,000 after buying an additional 2,892 shares during the period. Finally, Good Life Advisors LLC raised its holdings in shares of Enterprise Products Partners by 21.6% during the third quarter. Good Life Advisors LLC now owns 15,913 shares of the oil and gas producer’s stock valued at $463,000 after acquiring an additional 2,828 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EPD shares. Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank started coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Up 0.9 %

EPD stock opened at $33.22 on Friday. The business has a 50 day moving average of $32.48 and a 200 day moving average of $30.72. The firm has a market cap of $72.00 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $26.49 and a twelve month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results 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. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.