Kovack Advisors Inc. Buys 5,581 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Kovack Advisors Inc. grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,579 shares of the oil and gas producer’s stock after acquiring an additional 5,581 shares during the period. Kovack Advisors Inc.’s holdings in Enterprise Products Partners were worth $1,069,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EPD. Rational Advisors LLC bought a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $43,000. Financial Gravity Asset Management Inc. acquired a new stake in Enterprise Products Partners during the third quarter worth approximately $48,000. Community Bank N.A. increased its holdings in shares of Enterprise Products Partners by 68.3% during the fourth 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 period. Bear Mountain Capital Inc. bought a new position in Enterprise Products Partners in the fourth quarter valued at approximately $53,000. Finally, Headinvest LLC bought a new position in Enterprise Products Partners in the third quarter valued at approximately $62,000. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EPD shares. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Wells Fargo & Company boosted their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. 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 note on Tuesday, March 26th. Scotiabank boosted their target price 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. Finally, Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. 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 company. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Trading Up 0.4 %

EPD stock traded up $0.13 during midday trading on Friday, hitting $29.06. The stock had a trading volume of 7,621,520 shares, compared to its average volume of 4,698,358. The firm has a market cap of $63.01 billion, a P/E ratio of 11.53 and a beta of 1.02. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The business has a fifty day moving average price of $28.58 and a two-hundred day moving average price of $27.33.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

Enterprise Products Partners 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.