IFG Advisory LLC Has $1.54 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

IFG Advisory LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 13.7% in the 4th quarter, Holdings Channel reports. The fund owned 58,391 shares of the oil and gas producer’s stock after acquiring an additional 7,016 shares during the quarter. IFG Advisory LLC’s holdings in Enterprise Products Partners were worth $1,539,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EPD. Fairfield Bush & CO. bought a new stake in Enterprise Products Partners during the 1st quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Enterprise Products Partners by 2.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after buying an additional 169,059 shares during the last quarter. BlackRock Inc. increased its holdings in Enterprise Products Partners by 4.7% during the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after buying an additional 1,114,690 shares during the last quarter. Cibc World Market Inc. increased its holdings in Enterprise Products Partners by 3.2% during the first quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock worth $2,307,000 after buying an additional 2,804 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Enterprise Products Partners by 76.5% in the first quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock valued at $22,931,000 after acquiring an additional 385,008 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Down 0.1 %

Shares of EPD stock opened at $29.05 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.25. The company has a market cap of $62.98 billion, a PE ratio of 11.53 and a beta of 1.02. The stock’s fifty day moving average price is $27.51 and its two-hundred day moving average price is $27.01.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same period last year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 2.64 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date of this dividend was Tuesday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Analyst Ratings Changes

A number of equities analysts have weighed in on EPD shares. Mizuho boosted their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Truist Financial lifted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $32.55.

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.