Patrick M Sweeney & Associates Inc. Acquires Shares of 8,992 Enterprise Products Partners L.P. (NYSE:EPD)

Patrick M Sweeney & Associates Inc. bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,992 shares of the oil and gas producer’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. increased its position in shares of Enterprise Products Partners by 8.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after acquiring an additional 371 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Enterprise Products Partners by 3.3% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock worth $328,000 after purchasing an additional 386 shares during the last quarter. Ellsworth Advisors LLC boosted its position in Enterprise Products Partners by 1.9% in the fourth quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock valued at $558,000 after buying an additional 393 shares during the last quarter. Register Financial Advisors LLC increased its holdings in Enterprise Products Partners by 2.3% in the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock worth $456,000 after buying an additional 397 shares during the period. Finally, Your Advocates Ltd. LLP raised its position in Enterprise Products Partners by 1.9% during the 3rd quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock worth $615,000 after buying an additional 412 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the subject of several recent research reports. Truist Financial raised their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus increased their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Finally, Wells Fargo & Company lifted their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $32.75.

Enterprise Products Partners Price Performance

EPD traded down $0.02 during trading on Tuesday, reaching $28.35. The company’s stock had a trading volume of 5,065,845 shares, compared to its average volume of 4,982,221. The company has a market cap of $61.47 billion, a price-to-earnings ratio of 11.12 and a beta of 1.02. The firm has a fifty day simple moving average of $28.68 and a two-hundred day simple moving average of $27.36. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99. 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 (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter last year, the business posted $0.64 earnings per share. The firm’s revenue was up 18.6% compared to the same quarter last year. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.27%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 80.78%.

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.