Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 31.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,591 shares of the oil and gas producer’s stock after buying an additional 614 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Enterprise Products Partners were worth $68,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $43,000. Financial Gravity Asset Management Inc. acquired a new stake in Enterprise Products Partners in the third quarter valued at $48,000. Headinvest LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter worth about $62,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth about $70,000. Finally, Versant Capital Management Inc purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at about $79,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EPD. Stifel Nicolaus upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Company increased their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Scotiabank boosted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Finally, Mizuho reiterated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Price Performance

Shares of EPD opened at $28.62 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The firm has a 50-day simple moving average of $28.61 and a 200-day simple moving average of $27.34. The company has a market capitalization of $62.04 billion, a price-to-earnings ratio of 11.36 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same period in the prior year, the business earned $0.65 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.20%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

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.