Spinnaker Trust Takes $280,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Spinnaker Trust bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, HoldingsChannel.com reports. The firm bought 8,920 shares of the oil and gas producer’s stock, valued at approximately $280,000.

Several other institutional investors have also made changes to their positions in EPD. Good Life Advisors LLC boosted its position in shares of Enterprise Products Partners by 21.6% during the 3rd 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. Stonegate Investment Group LLC lifted its holdings in Enterprise Products Partners by 9.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 12,481 shares of the oil and gas producer’s stock valued at $363,000 after purchasing an additional 1,058 shares during the last quarter. Stratos Wealth Advisors LLC lifted its holdings in Enterprise Products Partners by 3.9% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 18,602 shares of the oil and gas producer’s stock valued at $542,000 after purchasing an additional 692 shares during the last quarter. Blue Trust Inc. lifted its holdings in Enterprise Products Partners by 5.9% during the 3rd quarter. Blue Trust Inc. now owns 79,703 shares of the oil and gas producer’s stock valued at $2,310,000 after purchasing an additional 4,473 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Enterprise Products Partners by 3.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,064,093 shares of the oil and gas producer’s stock valued at $30,976,000 after purchasing an additional 33,228 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on EPD. 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. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Citigroup boosted their target price on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Trading Up 0.9 %

EPD opened at $33.52 on Friday. 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 company has a market cap of $72.65 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The firm has a 50 day simple moving average of $32.50 and a 200 day simple moving average of $30.76. Enterprise Products Partners L.P. has a fifty-two week low of $26.64 and a fifty-two week high of $34.63.

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 for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.39%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s 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.