Heritage Trust Co Invests $402,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Heritage Trust Co purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 12,812 shares of the oil and gas producer’s stock, valued at approximately $402,000.

A number of other large investors have also added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton increased its stake 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 acquiring an additional 656 shares during the last quarter. Tidemark LLC increased its position in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth $30,000. Finally, National Bank of Canada FI boosted its stake in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 360 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Scotiabank raised their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Barclays upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Truist Financial boosted 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 report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Stock Up 1.2 %

EPD stock opened at $29.29 on Friday. The company has a market capitalization of $63.44 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The firm’s fifty day simple moving average is $32.84 and its 200-day simple moving average is $31.84. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

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

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners’s payout ratio is presently 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.