Pittenger & Anderson Inc. Takes $124,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Pittenger & Anderson Inc. acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 4,700 shares of the oil and gas producer’s stock, valued at approximately $124,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new position in shares of Enterprise Products Partners in the third quarter worth about $43,000. Financial Gravity Asset Management Inc. purchased a new position in Enterprise Products Partners in the 3rd quarter worth approximately $48,000. Community Bank N.A. boosted its holdings in shares of Enterprise Products Partners by 68.3% during the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 750 shares during the last quarter. Bear Mountain Capital Inc. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $53,000. Finally, Headinvest LLC purchased a new position in Enterprise Products Partners during the third quarter worth approximately $62,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on EPD. Truist Financial upped their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Barclays increased their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Trading Up 0.3 %

NYSE EPD traded up $0.10 on Friday, reaching $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 quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $28.55 and a two-hundred day moving average price of $27.32. Enterprise Products Partners L.P. has a 12-month low of $25.19 and a 12-month high of $29.99. The firm has a market capitalization of $62.94 billion, a price-to-earnings ratio of 11.45 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 firm had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the previous year, the business earned $0.65 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm 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. This represents a $2.06 annualized dividend and a yield of 7.10%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s 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.