Generali Asset Management SPA SGR Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Generali Asset Management SPA SGR bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,885 shares of the oil and gas producer’s stock, valued at approximately $122,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC raised its stake in shares of Enterprise Products Partners by 46.2% in the third quarter. Avior Wealth Management LLC now owns 17,409 shares of the oil and gas producer’s stock worth $507,000 after buying an additional 5,500 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Enterprise Products Partners by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 82,871 shares of the oil and gas producer’s stock worth $2,412,000 after buying an additional 607 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Enterprise Products Partners by 78.2% in the third quarter. Citizens Financial Group Inc. RI now owns 26,091 shares of the oil and gas producer’s stock worth $760,000 after buying an additional 11,449 shares during the period. King Luther Capital Management Corp raised its stake in shares of Enterprise Products Partners by 0.4% in the third quarter. King Luther Capital Management Corp now owns 236,944 shares of the oil and gas producer’s stock worth $6,897,000 after buying an additional 1,050 shares during the period. Finally, 49 Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth about $307,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $33.69 on Friday. The stock has a market cap of $72.95 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a 50 day moving average price of $33.41 and a 200-day moving average price of $31.54. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 79.55%.

Wall Street Analyst Weigh In

EPD has been the topic of several recent research reports. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Scotiabank lifted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.90.

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.