ZEGA Investments LLC Buys Shares of 21,199 Enterprise Products Partners L.P. (NYSE:EPD)

ZEGA Investments LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,199 shares of the oil and gas producer’s stock, valued at approximately $712,000.

Several other large investors also recently bought and sold shares of the company. FMR LLC grew its holdings in Enterprise Products Partners by 9.3% in 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 purchasing an additional 1,225,988 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. Brookfield Corp ON boosted its stake in shares of Enterprise Products Partners by 6.2% during the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after acquiring an additional 278,892 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Enterprise Products Partners by 0.3% during the third quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock valued at $101,032,000 after acquiring an additional 9,257 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in shares of Enterprise Products Partners by 5.0% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock valued at $100,646,000 after acquiring an additional 153,083 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EPD. Scotiabank increased their price objective 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 lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Morgan Stanley increased their price objective 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. Barclays increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Four 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 currently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $33.69 on Friday. The stock’s 50-day moving average is $33.41 and its 200-day moving average is $31.54. The company 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 current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 company had revenue of $14.20 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced 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. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.35%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

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.