Fisher Asset Management LLC Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Fisher Asset Management LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 39.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,536 shares of the oil and gas producer’s stock after buying an additional 3,554 shares during the period. Fisher Asset Management LLC’s holdings in Enterprise Products Partners were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ellevest Inc. purchased a new position in Enterprise Products Partners during the first quarter worth about $25,000. WealthPLAN Partners LLC purchased a new position in Enterprise Products Partners during the first quarter worth about $25,000. Mcmillion Capital Management Inc. acquired a new stake in shares of Enterprise Products Partners during the second quarter valued at about $26,000. Pacific Center for Financial Services acquired a new stake in shares of Enterprise Products Partners during the first quarter valued at about $27,000. Finally, Fairfield Bush & CO. acquired a new stake in shares of Enterprise Products Partners during the first quarter valued at about $31,000. 26.54% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 1.1 %

NYSE EPD opened at $26.27 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Enterprise Products Partners L.P. has a 52 week low of $23.14 and a 52 week high of $27.95. The stock has a market capitalization of $57.06 billion, a PE ratio of 10.72 and a beta of 1.07. The firm has a 50 day moving average of $26.94 and a two-hundred day moving average of $26.53.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). Enterprise Products Partners had a return on equity of 19.32% and a net margin of 11.04%. The firm had revenue of $12 billion for the quarter, compared to analyst estimates of $11.08 billion. During the same quarter last year, the firm earned $0.62 EPS. The company’s revenue was down 22.4% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.51 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend was Monday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group dropped their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Raymond James dropped their price target on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research report on Wednesday, November 1st. Truist Financial dropped their price target on shares of Enterprise Products Partners from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. TD Securities dropped their price target on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, August 2nd. Finally, StockNews.com assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 5th. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.08.

Insiders Place Their Bets

In other news, Director John R. Rutherford purchased 10,000 shares of the stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $25.96 per share, for a total transaction of $259,600.00. Following the acquisition, the director now directly owns 137,423 shares of the company’s stock, valued at approximately $3,567,501.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 32.60% of the stock is currently owned by company insiders.

About Enterprise Products Partners

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.