Lincoln National Corp Has $2.60 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Lincoln National Corp boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,694 shares of the oil and gas producer’s stock after purchasing an additional 13,507 shares during the quarter. Lincoln National Corp’s holdings in Enterprise Products Partners were worth $2,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Maryland State Retirement & Pension System increased its position in shares of Enterprise Products Partners by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 1,223,829 shares of the oil and gas producer’s stock worth $32,248,000 after acquiring an additional 16,642 shares in the last quarter. Private Advisor Group LLC increased its holdings in Enterprise Products Partners by 6.4% during the 4th quarter. Private Advisor Group LLC now owns 323,292 shares of the oil and gas producer’s stock worth $8,519,000 after purchasing an additional 19,544 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth approximately $293,000. Sheets Smith Wealth Management lifted its holdings in shares of Enterprise Products Partners by 2.9% in the fourth quarter. Sheets Smith Wealth Management now owns 244,510 shares of the oil and gas producer’s stock valued at $6,443,000 after purchasing an additional 7,000 shares in the last quarter. Finally, FourThought Financial Partners LLC boosted its position in shares of Enterprise Products Partners by 5.1% during the fourth quarter. FourThought Financial Partners LLC now owns 92,792 shares of the oil and gas producer’s stock valued at $2,445,000 after buying an additional 4,532 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. Barclays raised their price objective on 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 reiterated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Truist Financial lifted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Scotiabank upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus boosted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Two 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 company. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded down $0.02 during trading on Tuesday, hitting $28.35. The stock had a trading volume of 5,067,371 shares, compared to its average volume of 4,982,221. The firm has a market cap of $61.47 billion, a price-to-earnings ratio of 11.12 and a beta of 1.02. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99. The business’s 50-day moving average is $28.66 and its 200 day moving average is $27.36. 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 (NYSE:EPD) last announced its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the company earned $0.64 EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given 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 7.27%. Enterprise Products Partners’s payout ratio is presently 80.78%.

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.