SRS Capital Advisors Inc. Buys 3,425 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

SRS Capital Advisors Inc. boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,304 shares of the oil and gas producer’s stock after purchasing an additional 3,425 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Enterprise Products Partners were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Verity & Verity LLC lifted its holdings in shares of Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after buying an additional 26,032 shares in the last quarter. Spinnaker Trust acquired a new position in Enterprise Products Partners in the fourth quarter valued at about $280,000. FourThought Financial Partners LLC raised its stake in Enterprise Products Partners by 18.5% in the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after purchasing an additional 21,970 shares in the last quarter. Paragon Advisors LLC acquired a new position in Enterprise Products Partners in the third quarter valued at about $2,628,000. Finally, FMR LLC raised its stake in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EPD. Truist Financial boosted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Finally, Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.65 on Tuesday. The stock has a market cap of $72.94 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. 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’s 50-day moving average is $32.91 and its 200-day moving average is $31.16. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released 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 analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share 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 issued a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.36%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is 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.