AM Investment Strategies LLC Increases Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

AM Investment Strategies LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,087 shares of the oil and gas producer’s stock after purchasing an additional 1,543 shares during the quarter. Enterprise Products Partners accounts for about 0.8% of AM Investment Strategies LLC’s holdings, making the stock its 23rd biggest position. AM Investment Strategies LLC’s holdings in Enterprise Products Partners were worth $2,788,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter valued at approximately $43,000. Financial Gravity Asset Management Inc. purchased a new stake in Enterprise Products Partners in the 3rd quarter valued at approximately $48,000. Community Bank N.A. boosted its holdings in Enterprise Products Partners by 68.3% in the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 750 shares in the last quarter. Bear Mountain Capital Inc. purchased a new stake in Enterprise Products Partners in the 4th quarter valued at approximately $53,000. Finally, Headinvest LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter valued at approximately $62,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.4 %

NYSE EPD traded down $0.13 during trading hours on Thursday, hitting $28.92. The company had a trading volume of 4,653,249 shares, compared to its average volume of 4,938,114. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The company has a market capitalization of $62.71 billion, a price-to-earnings ratio of 11.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The firm’s 50 day moving average is $28.55 and its 200 day moving average is $27.32.

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 the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.12%. Enterprise Products Partners’s payout ratio is currently 81.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EPD. Truist Financial boosted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company boosted their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Scotiabank upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus 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.