Kelly Financial Services LLC Acquires Shares of 12,000 Enterprise Products Partners L.P. (NYSE:EPD)

Kelly Financial Services LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,000 shares of the oil and gas producer’s stock, valued at approximately $376,000.

A number of other institutional investors have also modified their holdings of the business. Axxcess Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 59.9% in the second quarter. Axxcess Wealth Management LLC now owns 14,871 shares of the oil and gas producer’s stock valued at $431,000 after purchasing an additional 5,571 shares during the period. XTX Topco Ltd acquired a new stake in Enterprise Products Partners in the second quarter valued at $1,373,000. Brighton Jones LLC grew its stake in shares of Enterprise Products Partners by 5.9% during the 2nd quarter. Brighton Jones LLC now owns 27,208 shares of the oil and gas producer’s stock worth $788,000 after purchasing an additional 1,509 shares during the period. AE Wealth Management LLC boosted its holdings in Enterprise Products Partners by 67.6% during the second quarter. AE Wealth Management LLC now owns 35,024 shares of the oil and gas producer’s stock worth $1,015,000 after buying an additional 14,122 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Enterprise Products Partners by 5.2% in the second quarter. Pacer Advisors Inc. now owns 81,517 shares of the oil and gas producer’s stock valued at $2,362,000 after buying an additional 4,038 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.2 %

NYSE EPD opened at $33.60 on Friday. The company has a market cap of $72.82 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.57 and a beta of 1.09. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a 50-day moving average of $32.07 and a 200-day moving average of $30.22.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.37%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial raised 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. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

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.