Enterprise Products Partners L.P. (NYSE:EPD) Holdings Raised by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,856 shares of the oil and gas producer’s stock after buying an additional 3,857 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Enterprise Products Partners were worth $1,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Trust Co. of Vermont lifted its position in Enterprise Products Partners by 10.0% in the 4th 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 in the last quarter. Griffin Asset Management Inc. lifted its position in Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after buying an additional 305 shares in the last quarter. Evanson Asset Management LLC lifted its position in Enterprise Products Partners by 0.4% in the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after buying an additional 306 shares in the last quarter. Sandbox Financial Partners LLC lifted its position in Enterprise Products Partners by 3.2% in the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after buying an additional 309 shares in the last quarter. Finally, Hardy Reed LLC lifted its position in Enterprise Products Partners by 2.2% in the 4th quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer’s stock worth $461,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EPD shares. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. 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. Truist Financial lifted their price objective 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. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Finally, Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Four 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $32.85 on Friday. The firm has a market cap of $71.19 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Enterprise Products Partners L.P. has a 12 month low of $27.26 and a 12 month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $32.80 and its two-hundred day moving average price is $31.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’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 business earned $0.72 earnings per share. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared 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 is a positive change 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 6.52%. Enterprise Products Partners’s payout ratio is 79.55%.

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.