Pettinga Financial Advisors LLC Has $580,000 Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Pettinga Financial Advisors LLC raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,009 shares of the oil and gas producer’s stock after buying an additional 500 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $580,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Ellsworth Advisors LLC increased its position in shares of Enterprise Products Partners by 1.9% during the third quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 380 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Enterprise Products Partners by 3.3% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock valued at $328,000 after acquiring an additional 386 shares during the period. Register Financial Advisors LLC grew its position in Enterprise Products Partners by 2.3% in the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after acquiring an additional 397 shares during the period. Your Advocates Ltd. LLP grew its position in Enterprise Products Partners by 1.9% in the third quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock valued at $615,000 after acquiring an additional 412 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its position in Enterprise Products Partners by 1.2% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 34,468 shares of the oil and gas producer’s stock valued at $943,000 after acquiring an additional 424 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.1 %

Shares of NYSE EPD traded down $0.01 during mid-day trading on Wednesday, reaching $29.05. 4,168,186 shares of the company’s stock were exchanged, compared to its average volume of 4,925,527. The firm has a market capitalization of $62.98 billion, a price-to-earnings ratio of 11.52 and a beta of 1.02. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $27.51 and a 200 day simple moving average of $27.01. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.25.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.64 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared 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 was Tuesday, January 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.09%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

Analyst Ratings Changes

EPD has been the topic of several research analyst reports. Mizuho increased their target price on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial increased their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a report on Tuesday, February 13th. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $32.55.

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.