Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 98,932 shares of the oil and gas producer’s stock after buying an additional 2,890 shares during the quarter. Wealthspire Advisors LLC’s holdings in Enterprise Products Partners were worth $2,607,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EPD. Cerity Partners LLC raised its stake in Enterprise Products Partners by 89.9% in the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Enterprise Products Partners by 8.7% during the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock worth $1,055,000 after acquiring an additional 3,075 shares during the last quarter. Cullen Investment Group LTD. purchased a new stake in Enterprise Products Partners in the 4th quarter worth approximately $7,542,000. Sapient Capital LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at $3,271,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth $3,793,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.2 %

Shares of EPD traded up $0.05 during midday trading on Wednesday, reaching $28.41. 4,547,550 shares of the company were exchanged, compared to its average volume of 4,977,405. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The stock has a 50-day moving average price of $28.68 and a 200-day moving average price of $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. The company has a market cap of $61.59 billion, a price-to-earnings ratio of 11.14 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the previous year, the company posted $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was up 18.6% on a year-over-year basis. Research analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors 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 7.25%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

Wall Street Analysts Forecast Growth

EPD has been the subject of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Barclays raised their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Mizuho restated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $32.75.

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.