Adell Harriman & Carpenter Inc. Has $5.68 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Adell Harriman & Carpenter Inc. grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 215,639 shares of the oil and gas producer’s stock after purchasing an additional 433 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Enterprise Products Partners were worth $5,682,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Rational Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $43,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $48,000. Community Bank N.A. lifted 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 acquiring an additional 750 shares during the period. Bear Mountain Capital Inc. acquired a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $53,000. Finally, Headinvest LLC bought a new stake in Enterprise Products Partners in the third quarter valued at about $62,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Truist Financial increased their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Mizuho restated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Finally, Wells Fargo & Company upped their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Stock Down 1.6 %

NYSE EPD traded down $0.47 during trading hours on Monday, reaching $28.59. 4,136,481 shares of the company’s stock were exchanged, compared to its average volume of 4,961,179. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99. The company’s 50-day moving average is $28.58 and its two-hundred day moving average is $27.33. The company has a market capitalization of $61.99 billion, a price-to-earnings ratio of 11.27 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 EPS 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 business had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. During the same period in the previous year, the firm posted $0.65 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 7.21%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is 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.