Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,348 shares of the oil and gas producer’s stock after purchasing an additional 330 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Enterprise Products Partners were worth $732,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EPD. Barclays PLC increased its holdings in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. FMR LLC increased its holdings in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Merewether Investment Management LP purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $30,746,000. Strategic Financial Concepts LLC increased its holdings in shares of Enterprise Products Partners by 3,884.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after purchasing an additional 665,716 shares in the last quarter. Finally, Fisher Funds Management LTD purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at approximately $13,599,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 1.4 %

Shares of EPD stock opened at $33.18 on Wednesday. The company’s 50-day moving average price is $33.14 and its 200-day moving average price is $31.33. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $71.85 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. 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 6.45%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EPD. Scotiabank lifted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Morgan Stanley boosted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Wells Fargo & Company lowered 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. Finally, Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.30.

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.