RWA Wealth Partners LLC Acquires 10,502 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

RWA Wealth Partners LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 48.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,235 shares of the oil and gas producer’s stock after buying an additional 10,502 shares during the period. RWA Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Townsend Asset Management Corp NC ADV grew its holdings in shares of Enterprise Products Partners by 13.9% in the 4th quarter. Townsend Asset Management Corp NC ADV now owns 17,860 shares of the oil and gas producer’s stock valued at $471,000 after buying an additional 2,181 shares during the period. Signaturefd LLC grew its holdings in shares of Enterprise Products Partners by 9.0% in the 4th quarter. Signaturefd LLC now owns 7,684 shares of the oil and gas producer’s stock valued at $202,000 after buying an additional 632 shares during the period. WFA Asset Management Corp boosted its stake in Enterprise Products Partners by 8.6% in the 4th quarter. WFA Asset Management Corp now owns 8,640 shares of the oil and gas producer’s stock worth $228,000 after purchasing an additional 682 shares during the period. WP Advisors LLC boosted its stake in Enterprise Products Partners by 2.1% in the 4th quarter. WP Advisors LLC now owns 313,953 shares of the oil and gas producer’s stock worth $8,273,000 after purchasing an additional 6,596 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in Enterprise Products Partners by 11.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 44,075 shares of the oil and gas producer’s stock worth $1,161,000 after purchasing an additional 4,530 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays upped 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 note 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 note on Friday, April 5th. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Truist Financial increased their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company increased their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Up 0.5 %

Shares of EPD stock opened at $29.05 on Thursday. The stock has a market cap of $62.98 billion, a price-to-earnings ratio of 11.53 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The firm’s 50-day moving average is $28.51 and its 200-day moving average is $27.31.

Enterprise Products Partners (NYSE:EPD) last released 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 firm had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Sell-side analysts predict 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. Stockholders of record on Tuesday, April 30th will be issued 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 dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is presently 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.