White Pine Capital LLC Purchases 921 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

White Pine Capital LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,716 shares of the oil and gas producer’s stock after buying an additional 921 shares during the quarter. White Pine Capital LLC’s holdings in Enterprise Products Partners were worth $361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EPD. Rational Advisors LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth $43,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $48,000. Community Bank N.A. lifted its stake 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 purchasing an additional 750 shares during the last quarter. Bear Mountain Capital Inc. purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth $53,000. Finally, Headinvest LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $62,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EPD shares. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Barclays upped their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Wells Fargo & Company upped their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Finally, Truist Financial increased their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded up $0.13 during trading on Friday, hitting $29.06. The stock had a trading volume of 7,621,520 shares, compared to its average volume of 4,698,358. Enterprise Products Partners L.P. has a 12-month low of $25.19 and a 12-month high of $29.99. The stock has a market capitalization of $63.01 billion, a price-to-earnings ratio of 11.53 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a 50-day simple moving average of $28.58 and a two-hundred day simple moving average of $27.33.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same period last year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.09%. 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.