Oppenheimer & Co. Inc. Grows Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Oppenheimer & Co. Inc. grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 448,299 shares of the oil and gas producer’s stock after purchasing an additional 5,801 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enterprise Products Partners were worth $14,059,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Schnieders Capital Management LLC increased its position in shares of Enterprise Products Partners by 11.8% during the fourth quarter. Schnieders Capital Management LLC now owns 54,168 shares of the oil and gas producer’s stock valued at $1,699,000 after acquiring an additional 5,715 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in Enterprise Products Partners in the 4th quarter worth approximately $1,919,000. Cutter & CO Brokerage Inc. grew its position in shares of Enterprise Products Partners by 1.4% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 668,636 shares of the oil and gas producer’s stock valued at $20,968,000 after acquiring an additional 9,152 shares during the period. FourThought Financial Partners LLC grew its position in shares of Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after acquiring an additional 21,970 shares during the period. Finally, IFP Advisors Inc grew its position in shares of Enterprise Products Partners by 14.1% during the 4th quarter. IFP Advisors Inc now owns 105,003 shares of the oil and gas producer’s stock valued at $3,293,000 after acquiring an additional 12,998 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EPD. Truist Financial lifted 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 cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Down 0.6 %

Shares of NYSE EPD opened at $33.09 on Thursday. The firm’s 50-day moving average price is $32.76 and its 200-day moving average price is $31.04. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $71.71 billion, a price-to-earnings ratio of 12.30, a P/E/G 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.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. On average, equities research 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. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.47%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend 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.