Heritage Wealth Advisors Has $11.66 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Heritage Wealth Advisors boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 371,864 shares of the oil and gas producer’s stock after acquiring an additional 1,532 shares during the period. Heritage Wealth Advisors’ holdings in Enterprise Products Partners were worth $11,662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in EPD. FMR LLC lifted its position in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the period. Brookfield Corp ON grew its holdings in Enterprise Products Partners by 6.2% in the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after buying an additional 278,892 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Enterprise Products Partners by 0.3% during the third quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock worth $101,032,000 after buying an additional 9,257 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Enterprise Products Partners by 10.7% in the fourth quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock valued at $104,310,000 after acquiring an additional 321,145 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.5 %

Shares of NYSE EPD opened at $33.51 on Wednesday. The company has a 50 day simple moving average of $33.43 and a 200 day simple moving average of $31.64. 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 L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The firm has a market cap of $72.57 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating 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 return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.39%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 79.55%.

Analyst Upgrades and Downgrades

EPD has been the subject of several analyst reports. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Scotiabank raised their price objective 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. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Finally, Barclays boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.90.

Enterprise Products Partners Company 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.