Veracity Capital LLC Has $1.26 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Veracity Capital LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,231 shares of the oil and gas producer’s stock after acquiring an additional 575 shares during the quarter. Veracity Capital LLC’s holdings in Enterprise Products Partners were worth $1,262,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Enterprise Products Partners by 5.2% during the second quarter. Pacer Advisors Inc. now owns 81,517 shares of the oil and gas producer’s stock valued at $2,362,000 after purchasing an additional 4,038 shares during the last quarter. Bank of Montreal Can grew its position in Enterprise Products Partners by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock worth $739,000 after acquiring an additional 570 shares during the last quarter. Insigneo Advisory Services LLC increased its stake in shares of Enterprise Products Partners by 20.2% in the second quarter. Insigneo Advisory Services LLC now owns 14,647 shares of the oil and gas producer’s stock worth $408,000 after buying an additional 2,465 shares during the period. AlTi Global Inc. boosted its holdings in shares of Enterprise Products Partners by 6.1% during the second quarter. AlTi Global Inc. now owns 7,414 shares of the oil and gas producer’s stock worth $215,000 after purchasing an additional 428 shares during the period. Finally, Elgethun Capital Management increased its stake in shares of Enterprise Products Partners by 1.2% during the second quarter. Elgethun Capital Management now owns 95,727 shares of the oil and gas producer’s stock valued at $2,774,000 after buying an additional 1,180 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.72 on Friday. The company has a market cap of $73.08 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.61 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63. The company’s 50-day moving average price is $32.28 and its 200-day moving average price is $30.33. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Wall Street Analyst Weigh In

Several brokerages have commented on EPD. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Wells Fargo & Company lowered 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. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.60.

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.