Crescent Grove Advisors LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Crescent Grove Advisors LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 155,221 shares of the oil and gas producer’s stock after purchasing an additional 2,233 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Enterprise Products Partners were worth $4,868,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EPD. Verity & Verity LLC lifted its position in shares of Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after purchasing an additional 26,032 shares in the last quarter. Paragon Advisors LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter valued at about $2,628,000. FMR LLC lifted its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after buying an additional 51,809 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of 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 valued at $118,561,000 after acquiring an additional 200,625 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. 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 target on the stock. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Truist Financial increased their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Down 0.2 %

EPD stock opened at $33.59 on Friday. The stock has a 50-day simple moving average of $32.38 and a two-hundred day simple moving average of $30.39. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63. The firm has a market capitalization of $72.81 billion, a PE ratio of 12.58, a PEG ratio of 1.60 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

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

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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.