Buffington Mohr McNeal Boosts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Buffington Mohr McNeal raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 132.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,532 shares of the oil and gas producer’s stock after purchasing an additional 10,005 shares during the period. Buffington Mohr McNeal’s holdings in Enterprise Products Partners were worth $550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. Pathway Financial Advisers LLC increased its position in Enterprise Products Partners by 2,862.8% during the third 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 during the period. Barclays PLC grew its position in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after acquiring an additional 1,243,741 shares during the period. FMR LLC raised its position 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 purchasing an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new stake in Enterprise Products Partners during the 3rd quarter worth $30,746,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Scotiabank started coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $33.46 on Tuesday. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63. The firm has a market capitalization of $72.52 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. The business’s 50 day simple moving average is $32.38 and its 200-day simple moving average is $30.40. 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 (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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.