ArchPoint Investors Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

ArchPoint Investors grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 165,360 shares of the oil and gas producer’s stock after purchasing an additional 504 shares during the quarter. Enterprise Products Partners accounts for approximately 1.7% of ArchPoint Investors’ investment portfolio, making the stock its 15th biggest holding. ArchPoint Investors’ holdings in Enterprise Products Partners were worth $5,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EPD. FMR LLC raised its holdings in Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after acquiring an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of 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 worth $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Enterprise Products Partners by 10.7% during the fourth quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock valued at $104,310,000 after purchasing an additional 321,145 shares in the last quarter. Miller Howard Investments Inc. NY boosted its position 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 buying an additional 153,083 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Enterprise Products Partners by 1.0% in the 4th quarter. HighTower Advisors LLC now owns 3,136,870 shares of the oil and gas producer’s stock worth $98,372,000 after buying an additional 31,848 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Truist Financial raised their price target 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 reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Barclays raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Scotiabank boosted their price target 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. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Trading Down 7.9 %

Enterprise Products Partners stock opened at $30.83 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The firm has a market capitalization of $66.76 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.37 and a beta of 0.78. The firm has a 50 day moving average of $33.41 and a 200 day moving average of $31.88.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were 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 was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.94%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Enterprise Products Partners 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.