Accurate Wealth Management LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,635 shares of the oil and gas producer’s stock, valued at approximately $118,000.
Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Meixler Investment Management Ltd. increased its holdings in shares of Enterprise Products Partners by 0.6% during the third quarter. Meixler Investment Management Ltd. now owns 66,550 shares of the oil and gas producer’s stock worth $1,583,000 after buying an additional 425 shares in the last quarter. Private Ocean LLC increased its holdings in shares of Enterprise Products Partners by 7.5% during the third quarter. Private Ocean LLC now owns 6,337 shares of the oil and gas producer’s stock worth $150,000 after buying an additional 443 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Enterprise Products Partners by 0.5% during the first quarter. Advisors Asset Management Inc. now owns 102,021 shares of the oil and gas producer’s stock worth $2,633,000 after buying an additional 458 shares in the last quarter. Oder Investment Management LLC increased its holdings in shares of Enterprise Products Partners by 2.7% during the third quarter. Oder Investment Management LLC now owns 17,485 shares of the oil and gas producer’s stock worth $416,000 after buying an additional 467 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Enterprise Products Partners by 18.8% during the second quarter. Quadrant Capital Group LLC now owns 2,956 shares of the oil and gas producer’s stock worth $72,000 after buying an additional 468 shares in the last quarter. 26.54% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
EPD has been the subject of several recent analyst reports. TD Securities raised their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 price target on the stock. StockNews.com assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Citigroup assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, December 8th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, Wolfe Research raised shares of Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research note on Monday, January 9th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.83.
Enterprise Products Partners Stock Performance
Shares of EPD opened at $24.92 on Tuesday. The firm has a 50-day moving average of $25.86 and a 200-day moving average of $25.17. Enterprise Products Partners L.P. has a one year low of $22.90 and a one year high of $28.65. The company has a market cap of $54.10 billion, a PE ratio of 9.97 and a beta of 1.10. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.86 and a quick ratio of 0.66.
Enterprise Products Partners (NYSE:EPD – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The oil and gas producer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The company had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $14.74 billion. Enterprise Products Partners had a net margin of 9.43% and a return on equity of 20.38%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.5 earnings per share for the current year.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st were issued a dividend of $0.49 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.48. The ex-dividend date was Monday, January 30th. This represents a $1.96 annualized dividend and a dividend yield of 7.87%. Enterprise Products Partners’s payout ratio is presently 78.40%.
Insider Buying and Selling
In related news, Director Carin Marcy Barth bought 5,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, December 27th. The stock was acquired at an average price of $23.99 per share, with a total value of $119,950.00. Following the acquisition, the director now owns 75,776 shares of the company’s stock, valued at approximately $1,817,866.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Enterprise Products Partners news, Director Carin Marcy Barth acquired 5,000 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was purchased at an average price of $23.99 per share, with a total value of $119,950.00. Following the acquisition, the director now directly owns 75,776 shares of the company’s stock, valued at approximately $1,817,866.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Aj Teague acquired 3,650 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was acquired at an average cost of $24.09 per share, with a total value of $87,928.50. Following the acquisition, the chief executive officer now directly owns 2,337,775 shares in the company, valued at $56,316,999.75. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 20,600 shares of company stock valued at $508,421. Company insiders own 32.60% of the company’s stock.
Enterprise Products Partners Company Profile
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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