Sanders Morris Harris LLC Has $26.47 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sanders Morris Harris LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 20.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 851,835 shares of the oil and gas producer’s stock after acquiring an additional 146,031 shares during the quarter. Enterprise Products Partners makes up 4.0% of Sanders Morris Harris LLC’s holdings, making the stock its 4th largest holding. Sanders Morris Harris LLC’s holdings in Enterprise Products Partners were worth $26,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Paragon Capital Management Ltd purchased a new stake in shares of Enterprise Products Partners in the 4th quarter worth $470,000. Sendero Wealth Management LLC lifted its stake in Enterprise Products Partners by 54.4% in the fourth quarter. Sendero Wealth Management LLC now owns 14,195 shares of the oil and gas producer’s stock worth $445,000 after acquiring an additional 5,000 shares during the period. Armstrong Advisory Group Inc. grew its holdings in Enterprise Products Partners by 4.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 8,161 shares of the oil and gas producer’s stock worth $256,000 after acquiring an additional 329 shares in the last quarter. ARS Wealth Advisors Group LLC increased its position in Enterprise Products Partners by 16.1% during the 4th quarter. ARS Wealth Advisors Group LLC now owns 8,149 shares of the oil and gas producer’s stock valued at $256,000 after purchasing an additional 1,130 shares during the period. Finally, Burney Co. increased its position in Enterprise Products Partners by 25.6% during the 4th quarter. Burney Co. now owns 15,626 shares of the oil and gas producer’s stock valued at $490,000 after purchasing an additional 3,186 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on EPD. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank started coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Up 0.5 %

NYSE:EPD opened at $33.51 on Thursday. The company’s 50 day moving average is $31.87 and its two-hundred day moving average is $30.15. The company has a market cap of $72.64 billion, a PE ratio of 12.55, a P/E/G ratio of 1.57 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63. 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 (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations 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 was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS 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 given 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 6.39%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

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.