Heritage Investors Management Corp Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Heritage Investors Management Corp bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,360 shares of the oil and gas producer’s stock, valued at approximately $747,000.

Several other hedge funds also recently made changes to their positions in the business. Rational Advisors LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth $43,000. Financial Gravity Asset Management Inc. acquired a new position in Enterprise Products Partners in the third quarter valued at about $48,000. Community Bank N.A. lifted its position in Enterprise Products Partners by 68.3% during the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 750 shares during the period. Bear Mountain Capital Inc. acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $53,000. Finally, Headinvest LLC acquired a new stake in Enterprise Products Partners during the third quarter worth about $62,000. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in 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, March 26th. Truist Financial boosted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company boosted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Scotiabank raised 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 note on Thursday, April 4th. Two 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, the company has a consensus rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Trading Up 0.8 %

NYSE EPD traded up $0.24 on Thursday, hitting $28.63. The company’s stock had a trading volume of 3,690,529 shares, compared to its average volume of 4,963,111. The company’s 50-day moving average is $28.70 and its 200 day moving average is $27.37. The firm has a market cap of $62.08 billion, a PE ratio of 11.23 and a beta of 1.02. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. 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 posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. Enterprise Products Partners’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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