Merit Financial Group LLC Acquires 13,076 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Merit Financial Group LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 65.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,183 shares of the oil and gas producer’s stock after buying an additional 13,076 shares during the period. Merit Financial Group LLC’s holdings in Enterprise Products Partners were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Rational Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $43,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enterprise Products Partners during the third quarter valued at 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 valued at $49,000 after acquiring an additional 750 shares in the last quarter. Bear Mountain Capital Inc. bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $53,000. Finally, Headinvest LLC bought a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $62,000. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on EPD shares. Wells Fargo & Company lifted their target price 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. Barclays boosted their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Mizuho reissued a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Finally, Truist Financial boosted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and a consensus price target of $32.75.

Enterprise Products Partners Price Performance

NYSE EPD opened at $28.10 on Monday. 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 business’s fifty day moving average is $28.64 and its 200 day moving average is $27.35. The company has a market capitalization of $60.93 billion, a PE ratio of 11.02 and a beta of 1.02. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.99.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.33%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

About Enterprise Products Partners

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.