Fort Washington Investment Advisors Inc. OH Acquires 18,400 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Fort Washington Investment Advisors Inc. OH raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 236,515 shares of the oil and gas producer’s stock after buying an additional 18,400 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Enterprise Products Partners were worth $7,417,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Rosenberg Matthew Hamilton boosted its holdings in 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 valued at $26,000 after acquiring an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. boosted its stake in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. increased its position in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners in the third quarter worth about $36,000. Finally, Bangor Savings Bank lifted its holdings in 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 during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EPD. Truist Financial increased their target price 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. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company cut 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 report on Wednesday, December 18th. Four investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $33.81 on Thursday. The company has a market cap of $73.29 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.58 and a beta of 1.09. The business’s fifty day simple moving average is $32.21 and its two-hundred day simple moving average is $30.31. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63. 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 released its quarterly earnings data 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). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.33%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

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.