Choreo LLC Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Choreo LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,374 shares of the oil and gas producer’s stock after buying an additional 7,345 shares during the period. Choreo LLC’s holdings in Enterprise Products Partners were worth $1,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC raised its holdings in shares of Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after buying an additional 137,044 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in Enterprise Products Partners by 8.7% during the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after purchasing an additional 3,075 shares during the period. Cullen Investment Group LTD. acquired a new position in Enterprise Products Partners during the fourth quarter valued at $7,542,000. Sapient Capital LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at $3,271,000. Finally, Acadian Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter valued at $3,793,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Scotiabank upped their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, Mizuho reiterated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. 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 stock presently has a consensus rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Stock Down 1.8 %

EPD stock opened at $28.07 on Wednesday. The stock has a market capitalization of $60.86 billion, a P/E ratio of 11.14 and a beta of 1.02. The firm has a 50-day simple moving average of $28.62 and a 200-day simple moving average of $27.34. 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 L.P. has a 52 week low of $25.19 and a 52 week high of $29.99.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 earnings per share. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share 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. Investors of record on Tuesday, April 30th will be paid 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 yield of 7.34%. Enterprise Products Partners’s dividend payout ratio is presently 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.