Sequoia Financial Advisors LLC Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Sequoia Financial Advisors LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 90.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,635 shares of the oil and gas producer’s stock after buying an additional 9,775 shares during the period. Sequoia Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $544,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Enterprise Products Partners during the 4th quarter valued at $129,000. Allspring Global Investments Holdings LLC boosted its position in Enterprise Products Partners by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock valued at $68,000 after buying an additional 614 shares during the period. Heronetta Management L.P. boosted its position in Enterprise Products Partners by 4.1% during the 4th quarter. Heronetta Management L.P. now owns 641,348 shares of the oil and gas producer’s stock valued at $16,900,000 after buying an additional 25,000 shares during the period. Strategic Blueprint LLC boosted its position in Enterprise Products Partners by 48.2% during the 4th quarter. Strategic Blueprint LLC now owns 12,128 shares of the oil and gas producer’s stock valued at $320,000 after buying an additional 3,945 shares during the period. Finally, Moseley Investment Management Inc. boosted its position in Enterprise Products Partners by 1.3% during the 4th quarter. Moseley Investment Management Inc. now owns 50,913 shares of the oil and gas producer’s stock valued at $1,342,000 after buying an additional 666 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $28.36 on Wednesday. The firm’s 50-day moving average price is $28.22 and its 200-day moving average price is $27.24. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market cap of $61.49 billion, a PE ratio of 11.25 and a beta of 1.02. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.62 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed 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. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is 81.75%.

Wall Street Analyst Weigh In

Several brokerages have commented on EPD. Barclays upped their price objective 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. Mizuho restated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Scotiabank increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock 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 issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $32.58.

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.