Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Simplicity Solutions LLC

Simplicity Solutions LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,936 shares of the oil and gas producer’s stock after purchasing an additional 3,591 shares during the period. Simplicity Solutions LLC’s holdings in Enterprise Products Partners were worth $762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. Fairfield Bush & CO. acquired a new position in shares of Enterprise Products Partners in the first quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Enterprise Products Partners by 2.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock worth $169,611,000 after acquiring an additional 169,059 shares during the period. BlackRock Inc. raised its position in shares of Enterprise Products Partners by 4.7% in the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after acquiring an additional 1,114,690 shares during the period. Cibc World Market Inc. raised its position in shares of Enterprise Products Partners by 3.2% in the first quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock worth $2,307,000 after acquiring an additional 2,804 shares during the period. Finally, Sei Investments Co. raised its position in shares of Enterprise Products Partners by 76.5% in the first quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock worth $22,931,000 after acquiring an additional 385,008 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $28.36 on Wednesday. The firm has a 50 day simple moving average of $28.22 and a 200-day simple moving average of $27.24. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a market cap of $61.49 billion, a price-to-earnings ratio of 11.25 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.62 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.26%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Wall Street Analyst Weigh In

EPD has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company boosted their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Scotiabank boosted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Finally, Truist Financial boosted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $32.58.

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.