Foundations Investment Advisors LLC Increases Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Foundations Investment Advisors LLC raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 290,363 shares of the oil and gas producer’s stock after acquiring an additional 15,305 shares during the period. Foundations Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $9,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of Enterprise Products Partners by 2.3% in the second quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock worth $739,000 after purchasing an additional 570 shares during the last quarter. Creative Planning boosted its holdings in Enterprise Products Partners by 13.6% in the second quarter. Creative Planning now owns 823,347 shares of the oil and gas producer’s stock valued at $23,861,000 after acquiring an additional 98,827 shares in the last quarter. Copperwynd Financial LLC boosted its holdings in Enterprise Products Partners by 12.3% in the second quarter. Copperwynd Financial LLC now owns 11,465 shares of the oil and gas producer’s stock valued at $331,000 after acquiring an additional 1,255 shares in the last quarter. Silver Lake Advisory LLC boosted its holdings in Enterprise Products Partners by 1.5% in the second quarter. Silver Lake Advisory LLC now owns 46,149 shares of the oil and gas producer’s stock valued at $1,337,000 after acquiring an additional 678 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Enterprise Products Partners by 8.4% in the second quarter. NewEdge Advisors LLC now owns 264,697 shares of the oil and gas producer’s stock valued at $7,671,000 after acquiring an additional 20,538 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Down 0.1 %

Shares of NYSE:EPD opened at $33.52 on Monday. The stock has a 50 day moving average of $32.38 and a 200 day moving average of $30.40. The company has a market cap of $72.66 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.60 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 L.P. has a 12-month low of $26.12 and a 12-month high of $34.63.

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 analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS 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. Investors of record on Friday, January 31st will be issued a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.38%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Analysts Set New Price Targets

Several brokerages have commented on EPD. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Truist Financial boosted 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. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four equities 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.60.

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.