Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 332,462 shares of the oil and gas producer’s stock after acquiring an additional 881 shares during the period. DAVENPORT & Co LLC’s holdings in Enterprise Products Partners were worth $10,411,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rosenberg Matthew Hamilton boosted its position in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares in the last quarter. Assetmark Inc. grew its stake in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $36,000. Finally, Bangor Savings Bank raised its position in Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $32.70 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market cap of $70.87 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.59 and a beta of 1.09. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63. The firm has a 50 day moving average price of $32.53 and a 200 day moving average price of $30.54.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Wall Street Analyst Weigh In

EPD has been the subject of a number of recent research reports. Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. 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 research report on Wednesday, December 18th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.44.

About Enterprise Products Partners

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.