MONECO Advisors LLC Has $2.51 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

MONECO Advisors LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 419.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,225 shares of the oil and gas producer’s stock after buying an additional 76,880 shares during the period. MONECO Advisors LLC’s holdings in Enterprise Products Partners were worth $2,509,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. boosted its position in shares of Enterprise Products Partners by 8.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 371 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Enterprise Products Partners by 3.3% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock worth $328,000 after acquiring an additional 386 shares in the last quarter. Ellsworth Advisors LLC raised its holdings in shares of Enterprise Products Partners by 1.9% in the fourth quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock valued at $558,000 after purchasing an additional 393 shares during the last quarter. Register Financial Advisors LLC boosted its holdings in Enterprise Products Partners by 2.3% during the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock worth $456,000 after purchasing an additional 397 shares during the last quarter. Finally, Your Advocates Ltd. LLP increased its stake in Enterprise Products Partners by 1.9% in the 3rd quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock valued at $615,000 after buying an additional 412 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

NYSE EPD traded down $0.52 on Tuesday, reaching $28.07. The stock had a trading volume of 8,876,852 shares, compared to its average volume of 5,008,442. 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 debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market cap of $60.86 billion, a P/E ratio of 11.20 and a beta of 1.02. The firm has a fifty day moving average of $28.61 and a two-hundred day moving average of $27.34.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share 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 business had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.34%. Enterprise Products Partners’s payout ratio is 81.75%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial lifted their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Mizuho restated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners 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.