Enterprise Products Partners L.P. (NYSE:EPD) Stock Holdings Increased by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 76.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,000 shares of the oil and gas producer’s stock after purchasing an additional 6,500 shares during the quarter. Shikiar Asset Management Inc.’s holdings in Enterprise Products Partners were worth $470,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LongView Wealth Management boosted its stake in shares of Enterprise Products Partners by 27.6% during the 4th quarter. LongView Wealth Management now owns 10,055 shares of the oil and gas producer’s stock worth $315,000 after acquiring an additional 2,177 shares in the last quarter. Albert D Mason Inc. lifted its holdings in shares of Enterprise Products Partners by 1.5% during the fourth quarter. Albert D Mason Inc. now owns 39,466 shares of the oil and gas producer’s stock valued at $1,238,000 after purchasing an additional 580 shares during the last quarter. Sax Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $215,000. Walker Asset Management LLC increased its stake in Enterprise Products Partners by 3.6% in the 4th quarter. Walker Asset Management LLC now owns 18,621 shares of the oil and gas producer’s stock worth $584,000 after purchasing an additional 652 shares in the last quarter. Finally, CNB Bank raised its holdings in Enterprise Products Partners by 41.6% during the 4th quarter. CNB Bank now owns 5,041 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 1,480 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.60 on Friday. The firm has a market cap of $72.82 billion, a P/E ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The stock’s 50-day moving average is $32.01 and its two-hundred day moving average is $30.19.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 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 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 company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 78.65%.

Analyst Ratings Changes

Several research analysts have recently weighed in on EPD shares. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four 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 stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

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.