Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Geneva Partners LLC

Geneva Partners LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,496 shares of the oil and gas producer’s stock after purchasing an additional 496 shares during the quarter. Geneva Partners LLC’s holdings in Enterprise Products Partners were worth $1,067,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of EPD. Institute for Wealth Management LLC. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $201,000. Western Wealth Management LLC lifted its position in Enterprise Products Partners by 3.5% in the fourth quarter. Western Wealth Management LLC now owns 18,673 shares of the oil and gas producer’s stock worth $492,000 after purchasing an additional 631 shares during the period. Obermeyer Wood Investment Counsel Lllp boosted its stake in Enterprise Products Partners by 1.1% during the 4th quarter. Obermeyer Wood Investment Counsel Lllp now owns 55,154 shares of the oil and gas producer’s stock valued at $1,453,000 after purchasing an additional 620 shares in the last quarter. Waterfront Wealth Inc. boosted its stake in Enterprise Products Partners by 1.7% during the 4th quarter. Waterfront Wealth Inc. now owns 36,732 shares of the oil and gas producer’s stock valued at $968,000 after purchasing an additional 603 shares in the last quarter. Finally, Tyche Wealth Partners LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter valued at $804,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.4 %

Shares of Enterprise Products Partners stock traded up $0.41 during midday trading on Friday, hitting $28.85. The company’s stock had a trading volume of 3,678,034 shares, compared to its average volume of 4,913,711. 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 quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $62.55 billion, a P/E ratio of 11.45 and a beta of 1.02. The stock has a 50-day simple moving average of $28.36 and a 200-day simple moving average of $27.26.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 firm had revenue of $14.62 billion during 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%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business 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 dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is presently 81.75%.

Wall Street Analyst Weigh In

EPD has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Mizuho reiterated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Stifel Nicolaus raised their target price 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. Scotiabank upped their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $32.58.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.