Saxon Interests Inc. Takes $419,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Saxon Interests Inc. purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,912 shares of the oil and gas producer’s stock, valued at approximately $419,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Miller Howard Investments Inc. NY lifted its position in Enterprise Products Partners by 7.1% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 3,189,590 shares of the oil and gas producer’s stock valued at $87,299,000 after acquiring an additional 210,603 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Enterprise Products Partners by 8.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after buying an additional 3,075 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $3,793,000. U.S. Capital Wealth Advisors LLC increased its stake in shares of Enterprise Products Partners by 16.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,794,073 shares of the oil and gas producer’s stock worth $49,104,000 after purchasing an additional 254,175 shares in the last quarter. Finally, CFM Wealth Partners LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter worth $3,739,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Up 0.4 %

EPD stock traded up $0.13 during trading on Thursday, hitting $29.18. 5,554,701 shares of the company’s stock traded hands, compared to its average volume of 4,935,889. The firm has a market capitalization of $63.27 billion, a P/E ratio of 11.61 and a beta of 1.02. The business has a fifty day simple moving average of $27.56 and a two-hundred day simple moving average of $27.03. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.26.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.64 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a $0.515 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a yield of 7.06%. The ex-dividend date of this dividend was Tuesday, January 30th. Enterprise Products Partners’s payout ratio is currently 81.75%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EPD. Barclays increased their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stifel Nicolaus increased their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Truist Financial raised their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Mizuho raised their price objective on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Two investment 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 company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target 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.