Pittenger & Anderson Inc. Acquires Shares of 4,700 Enterprise Products Partners L.P. (NYSE:EPD)

Pittenger & Anderson Inc. purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,700 shares of the oil and gas producer’s stock, valued at approximately $124,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares in the last quarter. Blackstone Inc. increased its position in shares of Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after acquiring an additional 2,472,847 shares in the last quarter. American Century Companies Inc. raised its holdings in Enterprise Products Partners by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after acquiring an additional 2,155,640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Enterprise Products Partners by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after acquiring an additional 1,325,390 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Enterprise Products Partners by 2,436.1% in the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock worth $308,640,000 after purchasing an additional 1,125,117 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research reports. Scotiabank boosted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Mizuho reissued a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Barclays increased their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock traded up $0.10 during mid-day trading on Friday, hitting $29.03. The stock had a trading volume of 3,179,966 shares, compared to its average volume of 4,913,320. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $28.55 and its 200 day moving average is $27.32. The firm has a market capitalization of $62.94 billion, a P/E ratio of 11.45 and a beta of 1.02. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.10%. Enterprise Products Partners’s payout ratio is 81.75%.

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.