Sovereign Financial Group Inc. Buys 3,800 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Sovereign Financial Group Inc. boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 35.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,467 shares of the oil and gas producer’s stock after acquiring an additional 3,800 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Enterprise Products Partners were worth $454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EPD. Oppenheimer Asset Management Inc. lifted its stake in Enterprise Products Partners by 1.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 63,938 shares of the oil and gas producer’s stock valued at $1,853,000 after purchasing an additional 611 shares during the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of Enterprise Products Partners during the second quarter valued at $424,000. Perennial Investment Advisors LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at $202,000. Axxcess Wealth Management LLC raised its stake in shares of Enterprise Products Partners by 59.9% during the second quarter. Axxcess Wealth Management LLC now owns 14,871 shares of the oil and gas producer’s stock valued at $431,000 after acquiring an additional 5,571 shares during the last quarter. Finally, L & S Advisors Inc raised its stake in shares of Enterprise Products Partners by 24.5% during the second quarter. L & S Advisors Inc now owns 9,340 shares of the oil and gas producer’s stock valued at $271,000 after acquiring an additional 1,840 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.4 %

NYSE:EPD opened at $33.31 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $72.20 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.66 and a beta of 1.09. The firm has a fifty day simple moving average of $31.87 and a two-hundred day simple moving average of $30.15. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted 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 company had revenue of $13.78 billion during 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 company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.42%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EPD. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Truist Financial lifted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.60.

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.