Ellsworth Advisors LLC Buys 393 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Ellsworth Advisors LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,173 shares of the oil and gas producer’s stock after buying an additional 393 shares during the period. Ellsworth Advisors LLC’s holdings in Enterprise Products Partners were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in EPD. Moneta Group Investment Advisors LLC raised its position in Enterprise Products Partners by 104,195.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after purchasing an additional 132,237,142 shares in the last quarter. Cowa LLC raised its position in Enterprise Products Partners by 9,906.0% during the first quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after purchasing an additional 7,675,795 shares in the last quarter. Alps Advisors Inc. raised its position in Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares in the last quarter. Morgan Stanley increased its holdings in shares of Enterprise Products Partners by 17.6% during the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock worth $500,370,000 after buying an additional 3,102,695 shares in the last quarter. Finally, Blackstone Inc. increased its holdings in shares of Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after buying an additional 2,472,847 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

EPD traded up $0.13 on Thursday, hitting $29.18. The company’s stock had a trading volume of 5,554,701 shares, compared to its average volume of 4,935,889. The company’s 50 day simple moving average is $27.56 and its 200-day simple moving average is $27.03. The firm has a market cap of $63.27 billion, a P/E ratio of 11.61 and a beta of 1.02. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.26. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same period last year, the firm earned $0.65 EPS. Enterprise Products Partners’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.64 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $2.06 annualized dividend and a dividend yield of 7.06%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays upped their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company boosted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, 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. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $32.55.

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.