Smart Money Group LLC Acquires 6,500 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Smart Money Group LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 20.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,890 shares of the oil and gas producer’s stock after acquiring an additional 6,500 shares during the quarter. Smart Money Group LLC’s holdings in Enterprise Products Partners were worth $1,220,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Hamlin Capital Management LLC raised its position in shares of Enterprise Products Partners by 0.5% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after acquiring an additional 24,335 shares in the last quarter. Brookfield Corp ON lifted its stake in shares of Enterprise Products Partners by 6.2% in the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after purchasing an additional 278,892 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake 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. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $33.60 on Monday. The stock has a market capitalization of $72.82 billion, a PE ratio of 12.58, a P/E/G ratio of 1.57 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business has a 50 day simple moving average of $32.07 and a two-hundred day simple moving average of $30.23. Enterprise Products Partners L.P. has a 1-year low of $26.12 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EPD. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Scotiabank started 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 target price for the company. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Truist Financial boosted their price objective 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. Four equities research 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 stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus 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.