Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 727,966 shares of the oil and gas producer's stock after buying an additional 102,777 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Enterprise Products Partners were worth $22,829,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Kayne Anderson Capital Advisors LP boosted its position in Enterprise Products Partners by 16.7% during the fourth 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 last quarter. Barclays PLC boosted its position in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $36,279,000. KDK Private Wealth Management LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $22,333,000. Finally, Strategic Financial Concepts LLC boosted its position in Enterprise Products Partners by 3,884.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer's stock valued at $21,414,000 after purchasing an additional 665,716 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded down $0.89 during trading on Wednesday, reaching $29.90. The company had a trading volume of 6,341,976 shares, compared to its average volume of 4,374,677. 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 firm's 50-day simple moving average is $32.26 and its 200 day simple moving average is $31.97. The firm has a market capitalization of $64.75 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 7.16%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. StockNews.com raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Scotiabank lifted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Finally, Barclays lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.89.

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.