Trust Co. of Vermont Increases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Trust Co. of Vermont raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,307 shares of the oil and gas producer’s stock after buying an additional 300 shares during the quarter. Trust Co. of Vermont’s holdings in Enterprise Products Partners were worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of EPD. Howard Financial Services LTD. lifted its position in Enterprise Products Partners by 1.6% during the fourth quarter. Howard Financial Services LTD. now owns 92,208 shares of the oil and gas producer’s stock valued at $2,892,000 after purchasing an additional 1,484 shares during the last quarter. Verity & Verity LLC lifted its holdings in shares of Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after acquiring an additional 26,032 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Enterprise Products Partners by 15.2% in the 4th quarter. Arkadios Wealth Advisors now owns 53,677 shares of the oil and gas producer’s stock valued at $1,683,000 after acquiring an additional 7,086 shares during the last quarter. Shikiar Asset Management Inc. increased its stake in Enterprise Products Partners by 76.5% during the fourth quarter. Shikiar Asset Management Inc. now owns 15,000 shares of the oil and gas producer’s stock worth $470,000 after acquiring an additional 6,500 shares during the last quarter. Finally, LongView Wealth Management raised its position in Enterprise Products Partners by 27.6% during the fourth quarter. LongView Wealth Management now owns 10,055 shares of the oil and gas producer’s stock valued at $315,000 after purchasing an additional 2,177 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EPD. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank started coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. 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 research report on Wednesday, December 18th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.60 on Monday. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63. The stock’s fifty day moving average price is $32.07 and its 200-day moving average price is $30.23. The firm has a market cap of $72.82 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.57 and a beta of 1.09. 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 (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.37%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

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.