United Asset Strategies Inc. Has $611,000 Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

United Asset Strategies Inc. raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,172 shares of the oil and gas producer’s stock after purchasing an additional 1,506 shares during the period. United Asset Strategies Inc.’s holdings in Enterprise Products Partners were worth $611,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EPD. Moneta Group Investment Advisors LLC boosted its position in shares of Enterprise Products Partners by 104,195.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after acquiring an additional 132,237,142 shares during the period. Cowa LLC lifted its position in Enterprise Products Partners by 9,906.0% in the first quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock worth $2,001,000 after purchasing an additional 7,675,795 shares during the period. Alps Advisors Inc. lifted its position in Enterprise Products Partners by 20.2% in the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares during the period. Morgan Stanley lifted its position in Enterprise Products Partners by 17.6% in the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock worth $500,370,000 after purchasing an additional 3,102,695 shares during the period. Finally, Blackstone Inc. lifted its position in Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after purchasing an additional 2,472,847 shares during the period. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays raised their target price 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 reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Scotiabank lifted their price objective 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. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Truist Financial lifted their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Two 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. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $28.40 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $61.57 billion, a PE ratio of 11.27 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 stock has a 50-day moving average price of $28.27 and a two-hundred day moving average price of $27.24.

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

Enterprise Products Partners Announces Dividend

The firm also recently announced 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 7.25%. Enterprise Products Partners’s dividend payout ratio is currently 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.