Tcfg Wealth Management LLC Boosts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Tcfg Wealth Management LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,704 shares of the oil and gas producer’s stock after buying an additional 1,033 shares during the quarter. Enterprise Products Partners accounts for approximately 1.0% of Tcfg Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Tcfg Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Trust Co. of Vermont boosted its stake in Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after buying an additional 300 shares during the period. Griffin Asset Management Inc. boosted its stake in shares of Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after purchasing an additional 305 shares during the period. Evanson Asset Management LLC boosted its stake in shares of Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after purchasing an additional 306 shares during the period. Sandbox Financial Partners LLC boosted its stake in shares of Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after purchasing an additional 309 shares during the period. Finally, Guyasuta Investment Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 1.1% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 29,800 shares of the oil and gas producer’s stock valued at $935,000 after purchasing an additional 322 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Citigroup boosted their target price on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.52 on Friday. The company has a market capitalization of $72.65 billion, a PE ratio of 12.46, a P/E/G ratio of 1.54 and a beta of 1.09. 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 50-day simple moving average of $32.50 and a two-hundred day simple moving average of $30.76. Enterprise Products Partners L.P. has a one year low of $26.64 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS 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%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Research analysts expect that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is an increase 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 6.39%. 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.