Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Smart Money Group LLC

Smart Money Group LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 20,077 shares of the oil and gas producer’s stock after acquiring an additional 1,604 shares during the quarter. Smart Money Group LLC’s holdings in Enterprise Products Partners were worth $529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EPD. Commonwealth Equity Services LLC raised its stake in shares of Enterprise Products Partners by 2.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 932,781 shares of the oil and gas producer’s stock valued at $25,530,000 after acquiring an additional 18,421 shares during the period. Chevy Chase Trust Holdings LLC acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $205,000. SVB Wealth LLC grew its holdings in Enterprise Products Partners by 23.0% during the 3rd quarter. SVB Wealth LLC now owns 14,935 shares of the oil and gas producer’s stock worth $409,000 after acquiring an additional 2,793 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 0.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 517,826 shares of the oil and gas producer’s stock valued at $14,173,000 after buying an additional 3,152 shares in the last quarter. Finally, Mission Wealth Management LP acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $531,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Scotiabank upped 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 research report on Thursday, April 4th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Truist Financial increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday. Barclays increased their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Finally, Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Trading Up 1.1 %

Shares of Enterprise Products Partners stock traded up $0.31 during mid-day trading on Thursday, hitting $28.05. 4,107,564 shares of the stock were exchanged, compared to its average volume of 5,011,323. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99. The stock has a market capitalization of $60.82 billion, a price-to-earnings ratio of 10.92 and a beta of 1.02. The company has a 50-day simple moving average of $28.63 and a 200 day simple moving average of $27.35. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. Research analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.34%. Enterprise Products Partners’s payout ratio is 80.78%.

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.