Van ECK Associates Corp Acquires 10,090 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Van ECK Associates Corp increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,029 shares of the oil and gas producer’s stock after purchasing an additional 10,090 shares during the quarter. Van ECK Associates Corp’s holdings in Enterprise Products Partners were worth $2,980,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Pathway Financial Advisers LLC lifted its position in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. Hamlin Capital Management LLC lifted its position in Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after purchasing an additional 24,335 shares during the period. Brookfield Corp ON lifted its position in Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after purchasing an additional 278,892 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after purchasing an additional 200,625 shares during the period. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on EPD. Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank began coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Finally, Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $33.54 on Friday. The stock has a 50-day moving average price of $32.60 and a 200 day moving average price of $30.89. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $72.69 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.57 and a beta of 1.09. Enterprise Products Partners L.P. has a 12 month low of $27.26 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. Research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.38%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

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.