Cutter & CO Brokerage Inc. Acquires 10,975 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cutter & CO Brokerage Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 650,166 shares of the oil and gas producer’s stock after buying an additional 10,975 shares during the quarter. Enterprise Products Partners accounts for about 4.8% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 3rd biggest position. Cutter & CO Brokerage Inc.’s holdings in Enterprise Products Partners were worth $17,132,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Rational Advisors LLC acquired a new stake in Enterprise Products Partners in the third quarter valued at approximately $43,000. Financial Gravity Asset Management Inc. bought a new stake in Enterprise Products Partners in the third quarter worth $48,000. Bear Mountain Capital Inc. acquired a new position in Enterprise Products Partners during the fourth quarter worth $53,000. Headinvest LLC bought a new position in Enterprise Products Partners during the third quarter valued at about $62,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Enterprise Products Partners by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock worth $68,000 after acquiring an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the subject of several analyst reports. Scotiabank boosted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Wells Fargo & Company raised their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Mizuho restated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Truist Financial lifted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Barclays boosted their target price 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 assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Price Performance

Shares of EPD stock traded down $0.09 during trading hours on Tuesday, hitting $28.91. The company had a trading volume of 7,291,587 shares, compared to its average volume of 4,942,741. 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 has a market capitalization of $62.67 billion, a price-to-earnings ratio of 11.49 and a beta of 1.02. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99. The firm’s fifty day moving average is $28.41 and its 200 day moving average is $27.28.

Enterprise Products Partners (NYSE:EPD) last posted 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. The business had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

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.