Larson Financial Group LLC Purchases 467 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Larson Financial Group LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,299 shares of the oil and gas producer’s stock after purchasing an additional 467 shares during the quarter. Larson Financial Group LLC’s holdings in Enterprise Products Partners were worth $271,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Alps Advisors Inc. lifted its position in shares of Enterprise Products Partners by 20.2% during the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after buying an additional 6,369,350 shares in the last quarter. Blackstone Inc. lifted its position in shares of Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after buying an additional 2,472,847 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after buying an additional 2,155,640 shares in the last quarter. Invesco Ltd. lifted its holdings in Enterprise Products Partners by 10.5% in the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after purchasing an additional 969,199 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 worth $263,706,000 after purchasing an additional 1,325,390 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $28.91 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $25.19 and a 52 week high of $29.99. The company has a market capitalization of $62.67 billion, a PE ratio of 11.47 and a beta of 1.02. The stock’s fifty day moving average is $28.46 and its two-hundred day moving average is $27.29. 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 issued its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping 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 business had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same period in the prior year, the business earned $0.65 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 81.75%.

Wall Street Analyst Weigh In

A number of research firms recently commented on EPD. Truist Financial boosted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Wells Fargo & Company boosted their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $32.58.

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.