19,820 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,820 shares of the oil and gas producer’s stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its position in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Pathway Financial Advisers LLC raised its position in 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 acquiring an additional 7,494,224 shares in the last quarter. Hamlin Capital Management LLC raised its position in Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after acquiring an additional 24,335 shares in the last quarter. Brookfield Corp ON raised its position in Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after acquiring an additional 278,892 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after acquiring an additional 200,625 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EPD has been the topic of several research reports. Truist Financial boosted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company downgraded 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. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Scotiabank assumed coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.44.

Enterprise Products Partners Price Performance

Shares of EPD opened at $32.97 on Wednesday. The company has a market capitalization of $71.46 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week 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 business’s 50-day moving average is $32.55 and its 200-day moving average is $30.57.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.49%. Enterprise Products Partners’s payout ratio is presently 80.15%.

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.