Merit Financial Group LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Merit Financial Group LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 65.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,183 shares of the oil and gas producer’s stock after buying an additional 13,076 shares during the quarter. Merit Financial Group LLC’s holdings in Enterprise Products Partners were worth $874,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Loudon Investment Management LLC raised its stake in Enterprise Products Partners by 2.0% during the fourth quarter. Loudon Investment Management LLC now owns 216,845 shares of the oil and gas producer’s stock worth $5,935,000 after purchasing an additional 4,319 shares during the period. Smart Money Group LLC raised its stake in Enterprise Products Partners by 8.7% during the fourth quarter. Smart Money Group LLC now owns 20,077 shares of the oil and gas producer’s stock worth $529,000 after purchasing an additional 1,604 shares during the period. Aveo Capital Partners LLC raised its stake in Enterprise Products Partners by 1.3% during the fourth quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock worth $1,464,000 after purchasing an additional 716 shares during the period. Miller Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at $250,000. Finally, Natixis Advisors L.P. purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at $314,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.2 %

Enterprise Products Partners stock opened at $28.10 on Monday. The firm has a market cap of $60.93 billion, a PE ratio of 11.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The firm’s 50 day moving average price is $28.64 and its two-hundred day moving average price is $27.35. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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 issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.33%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of research reports. Truist Financial raised their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Mizuho reissued a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays lifted their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Finally, Scotiabank lifted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $32.75.

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.