1,273 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Bought by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,273 shares of the oil and gas producer’s stock, valued at approximately $40,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in EPD. Pathway Financial Advisers LLC raised its stake in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares in the last quarter. Barclays PLC grew its holdings in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Enterprise Products Partners by 2,854.1% in the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after purchasing an additional 1,243,741 shares during the period. FMR LLC lifted its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $30,746,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 4.0 %

EPD stock opened at $32.70 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market capitalization of $70.87 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.59 and a beta of 1.09. The business has a fifty day moving average price of $32.53 and a 200 day moving average price of $30.51. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.55%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EPD shares. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.60.

About Enterprise Products Partners

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.