Whipplewood Advisors LLC Invests $1.92 Million in Enterprise Products Partners L.P. (NYSE:EPD)

Whipplewood Advisors LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 61,190 shares of the oil and gas producer’s stock, valued at approximately $1,919,000. Enterprise Products Partners comprises approximately 1.1% of Whipplewood Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Verity & Verity LLC raised its position in shares of Enterprise Products Partners by 30.8% in 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 buying an additional 26,032 shares during the last quarter. Spinnaker Trust purchased a new stake in Enterprise Products Partners during the 4th quarter valued at about $280,000. Paragon Advisors LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at about $2,628,000. FMR LLC lifted its stake in Enterprise Products Partners by 9.3% in the 3rd 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 in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its stake in 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 purchasing an additional 51,809 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.6 %

Shares of EPD stock opened at $33.09 on Thursday. Enterprise Products Partners L.P. has a 1-year low of $27.26 and a 1-year high of $34.63. The firm has a market cap of $71.71 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a 50-day moving average of $32.76 and a two-hundred day moving average of $31.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared 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 6.47%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EPD shares. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Finally, Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Company 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.