QRG Capital Management Inc. Purchases 6,693 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

QRG Capital Management Inc. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 79.8% during the fourth quarter, HoldingsChannel reports. The fund owned 15,083 shares of the oil and gas producer’s stock after buying an additional 6,693 shares during the quarter. QRG Capital Management Inc.’s holdings in Enterprise Products Partners were worth $473,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in EPD. Proficio Capital Partners LLC lifted its position in shares of Enterprise Products Partners by 3,036.0% during the fourth quarter. Proficio Capital Partners LLC now owns 276,595 shares of the oil and gas producer’s stock worth $8,674,000 after acquiring an additional 267,775 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Enterprise Products Partners by 3.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 73,636 shares of the oil and gas producer’s stock valued at $2,309,000 after purchasing an additional 2,162 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Enterprise Products Partners by 1.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 448,299 shares of the oil and gas producer’s stock worth $14,059,000 after purchasing an additional 5,801 shares in the last quarter. Schnieders Capital Management LLC boosted its stake in Enterprise Products Partners by 11.8% in the 4th quarter. Schnieders Capital Management LLC now owns 54,168 shares of the oil and gas producer’s stock worth $1,699,000 after purchasing an additional 5,715 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $1,919,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

EPD opened at $33.18 on Thursday. The stock has a market capitalization of $71.85 billion, a P/E ratio of 12.33, a PEG ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The stock has a 50-day moving average price of $32.98 and a 200-day moving average price of $31.20.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Scotiabank started coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

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.