Lindbrook Capital LLC Raises Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Lindbrook Capital LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,618 shares of the oil and gas producer’s stock after acquiring an additional 2,790 shares during the period. Lindbrook Capital LLC’s holdings in Enterprise Products Partners were worth $2,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Verity & Verity LLC grew its stake 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 worth $3,470,000 after buying an additional 26,032 shares in the last quarter. Spinnaker Trust purchased a new position in Enterprise Products Partners in the 4th quarter worth approximately $280,000. FourThought Financial Partners LLC grew its stake 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 worth $4,407,000 after buying an additional 21,970 shares in the last quarter. Paragon Advisors LLC purchased a new position in Enterprise Products Partners in the 3rd quarter worth approximately $2,628,000. Finally, FMR LLC grew its stake 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 worth $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EPD. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered 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. Finally, Scotiabank began coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Stock Down 0.4 %

Shares of NYSE EPD opened at $33.18 on Thursday. 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 L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The firm has a market capitalization of $71.85 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The firm has a fifty day simple moving average of $32.98 and a two-hundred day simple moving average of $31.20.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the business earned $0.72 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current 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 issued a $0.535 dividend. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.45%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

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.