NewEdge Wealth LLC Buys 2,616 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

NewEdge Wealth LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 23.4% during the 4th quarter, HoldingsChannel reports. The fund owned 13,772 shares of the oil and gas producer’s stock after acquiring an additional 2,616 shares during the quarter. NewEdge Wealth LLC’s holdings in Enterprise Products Partners were worth $363,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of EPD. Fairfield Bush & CO. acquired a new position in shares of Enterprise Products Partners in the second quarter valued at about $26,000. Pacific Center for Financial Services acquired a new stake in Enterprise Products Partners during the first quarter worth about $27,000. Financial Freedom LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $38,000. Rational Advisors LLC acquired a new stake in Enterprise Products Partners during the third quarter worth about $43,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Enterprise Products Partners during the third quarter worth about $48,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Scotiabank increased their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Mizuho reissued a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, Truist Financial increased their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Two investment 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. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Stock Up 0.2 %

Shares of NYSE EPD opened at $28.40 on Thursday. The company has a 50 day simple moving average of $28.27 and a 200 day simple moving average of $27.24. The firm has a market cap of $61.57 billion, a PE ratio of 11.27 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 debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) 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 firm had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same quarter last year, the business earned $0.65 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.62 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.25%. Enterprise Products Partners’s payout ratio is 81.75%.

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.