Valmark Advisers Inc. Purchases Shares of 7,966 Enterprise Products Partners L.P. (NYSE:EPD)

Valmark Advisers Inc. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,966 shares of the oil and gas producer’s stock, valued at approximately $210,000.

Other large investors have also recently added to or reduced their stakes in the company. Delta Investment Management LLC lifted its stake in Enterprise Products Partners by 10.2% in the 4th quarter. Delta Investment Management LLC now owns 277,378 shares of the oil and gas producer’s stock valued at $7,309,000 after acquiring an additional 25,638 shares in the last quarter. Golden State Equity Partners increased its stake in Enterprise Products Partners by 8.1% in the 4th quarter. Golden State Equity Partners now owns 32,887 shares of the oil and gas producer’s stock valued at $867,000 after buying an additional 2,454 shares during the last quarter. Kovack Advisors Inc. lifted its position in Enterprise Products Partners by 15.9% during the 4th quarter. Kovack Advisors Inc. now owns 40,579 shares of the oil and gas producer’s stock worth $1,069,000 after buying an additional 5,581 shares in the last quarter. Bryn Mawr Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 5.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 52,357 shares of the oil and gas producer’s stock valued at $1,380,000 after acquiring an additional 2,754 shares in the last quarter. Finally, AM Investment Strategies LLC increased its position in shares of Enterprise Products Partners by 1.5% in the fourth quarter. AM Investment Strategies LLC now owns 105,087 shares of the oil and gas producer’s stock valued at $2,788,000 after acquiring an additional 1,543 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD opened at $28.62 on Tuesday. The firm has a market cap of $62.04 billion, a PE ratio of 11.36 and a beta of 1.02. The business’s 50 day moving average price is $28.61 and its two-hundred day moving average price is $27.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same quarter in the prior year, the company earned $0.65 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

Analysts Set New Price Targets

A number of research firms have weighed in on EPD. Truist Financial raised their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Barclays boosted 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 note on Tuesday, March 26th. Finally, Scotiabank increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target 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.