Meridian Wealth Advisors LLC Purchases 9,777 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Meridian Wealth Advisors LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 22.5% in the 4th quarter, HoldingsChannel reports. The fund owned 53,248 shares of the oil and gas producer’s stock after buying an additional 9,777 shares during the period. Meridian Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $1,403,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC increased its stake in Enterprise Products Partners by 89.9% during the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Enterprise Products Partners by 8.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock worth $1,055,000 after acquiring an additional 3,075 shares during the last quarter. Cullen Investment Group LTD. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth about $7,542,000. Sapient Capital LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at about $3,271,000. Finally, Acadian Asset Management LLC acquired a new position in Enterprise Products Partners during the 3rd quarter valued at about $3,793,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on EPD. Wells Fargo & Company raised their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Truist Financial raised their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Scotiabank boosted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $32.75.

Enterprise Products Partners Stock Up 0.1 %

EPD opened at $28.43 on Thursday. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99. The company’s 50-day moving average price is $28.68 and its two-hundred day moving average price is $27.36. The stock has a market cap of $61.64 billion, a price-to-earnings ratio of 11.14 and a beta of 1.02. 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 posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate 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 business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current 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 $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.25%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) 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.