Sage Investment Counsel LLC Purchases Shares of 44,884 Enterprise Products Partners L.P. (NYSE:EPD)

Sage Investment Counsel LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 44,884 shares of the oil and gas producer’s stock, valued at approximately $1,408,000. Enterprise Products Partners accounts for about 1.8% of Sage Investment Counsel LLC’s investment portfolio, making the stock its 8th largest position.

Other hedge funds have also recently bought and sold shares of the company. Verity & Verity LLC boosted its holdings in Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after purchasing an additional 26,032 shares during the period. Spinnaker Trust bought a new stake in Enterprise Products Partners in the 4th quarter valued at $280,000. FourThought Financial Partners LLC boosted its holdings in Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after purchasing an additional 21,970 shares during the period. Paragon Advisors LLC bought a new stake in Enterprise Products Partners in the 3rd quarter valued at $2,628,000. Finally, FMR LLC boosted its holdings in Enterprise Products Partners by 9.3% in the 3rd 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 period. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 1.8 %

Shares of Enterprise Products Partners stock opened at $33.41 on Friday. The stock has a market capitalization of $72.41 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a 50-day simple moving average of $32.85 and a 200 day simple moving average of $31.09. Enterprise Products Partners L.P. has a 12-month low of $27.26 and a 12-month 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. Research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.41%. The ex-dividend date of this dividend was Friday, January 31st. 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 79.55%.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research reports. Truist Financial increased their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

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.