Kieckhefer Group LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Kieckhefer Group LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,800 shares of the oil and gas producer’s stock, valued at approximately $56,000.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Enterprise Products Partners by 9.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock valued at $156,608,000 after buying an additional 447,768 shares during the period. Hamlin Capital Management LLC increased its position in Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after purchasing an additional 24,335 shares during the period. Finally, Brookfield Corp ON lifted its position in Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after purchasing an additional 278,892 shares during the period. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Scotiabank started coverage on shares of Enterprise Products Partners in a research note on Friday. They set a “sector perform” rating and a $33.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wells Fargo & Company downgraded 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. Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded up $0.50 on Monday, hitting $32.67. The company had a trading volume of 2,180,741 shares, compared to its average volume of 3,339,266. The stock has a 50 day moving average price of $31.72 and a 200 day moving average price of $30.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $70.81 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.66 and a beta of 1.09. Enterprise Products Partners L.P. has a 1-year low of $26.12 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.55%. Enterprise Products Partners’s payout ratio is 80.15%.

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.