Steward Partners Investment Advisory LLC Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Steward Partners Investment Advisory LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 310,132 shares of the oil and gas producer's stock after purchasing an additional 21,192 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Enterprise Products Partners were worth $9,726,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EPD. Resolute Wealth Strategies LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $215,000. Mission Wealth Management LP increased its stake in shares of Enterprise Products Partners by 33.0% in the 4th quarter. Mission Wealth Management LP now owns 32,456 shares of the oil and gas producer's stock valued at $1,018,000 after acquiring an additional 8,052 shares in the last quarter. Garrett Wealth Advisory Group LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $239,000. Fidelis Capital Partners LLC increased its stake in shares of Enterprise Products Partners by 10.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 41,374 shares of the oil and gas producer's stock valued at $1,371,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Enterprise Products Partners by 51.3% in the 4th quarter. Jones Financial Companies Lllp now owns 72,068 shares of the oil and gas producer's stock valued at $2,260,000 after acquiring an additional 24,426 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of EPD traded up $0.68 during midday trading on Friday, hitting $33.43. 6,028,329 shares of the company traded hands, compared to its average volume of 4,889,962. The stock has a 50-day moving average of $33.06 and a 200-day moving average of $31.24. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The firm has a market cap of $72.40 billion, a P/E ratio of 12.43, a PEG ratio of 1.37 and a beta of 1.08. 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 (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company's revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed 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 positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.40%. Enterprise Products Partners's payout ratio is presently 79.55%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EPD shares. Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.90.

About Enterprise Products Partners

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.