Thoroughbred Financial Services LLC Boosts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Thoroughbred Financial Services LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,701 shares of the oil and gas producer’s stock after purchasing an additional 540 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Enterprise Products Partners were worth $492,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont boosted its stake in Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 300 shares during the last quarter. Griffin Asset Management Inc. boosted its position in shares of Enterprise Products Partners by 0.8% during the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after acquiring an additional 305 shares during the last quarter. Evanson Asset Management LLC boosted its position in shares of Enterprise Products Partners by 0.4% during the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after acquiring an additional 306 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 14.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after purchasing an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC increased its position in Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD opened at $30.83 on Monday. The business has a fifty day moving average of $33.41 and a 200 day moving average of $31.88. The stock has a market cap of $66.76 billion, a P/E ratio of 11.46, a PEG ratio of 1.37 and a beta of 0.78. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63.

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

Enterprise Products Partners Increases Dividend

The business also recently announced 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. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.94%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Analysts Set New Price Targets

A number of brokerages have commented on EPD. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Four 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

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.