Alpha Cubed Investments LLC Has $478,000 Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Alpha Cubed Investments LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,248 shares of the oil and gas producer’s stock after selling 855 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Enterprise Products Partners were worth $478,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Verity & Verity LLC increased its position in shares of Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after purchasing an additional 26,032 shares during the period. Paragon Advisors LLC bought a new stake in Enterprise Products Partners in the 3rd quarter valued at $2,628,000. FMR LLC increased its holdings 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 valued at $420,037,000 after buying an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after acquiring an additional 51,809 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after acquiring an additional 200,625 shares during the period. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Truist Financial increased their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Finally, 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. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners Stock Up 1.7 %

Shares of NYSE:EPD opened at $34.15 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $74.02 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.58 and a beta of 1.09. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63. The company’s 50-day moving average price is $32.13 and its two-hundred day moving average price is $30.27.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the company earned $0.60 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.27%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 80.15%.

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.