McAlvany Wealth Management LLC Buys Shares of 70,336 Enterprise Products Partners L.P. $EPD

McAlvany Wealth Management LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, HoldingsChannel.com reports. The firm bought 70,336 shares of the oil and gas producer’s stock, valued at approximately $2,255,000. Enterprise Products Partners makes up about 1.7% of McAlvany Wealth Management LLC’s portfolio, making the stock its 19th largest holding.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after acquiring an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after acquiring an additional 5,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after acquiring an additional 3,742 shares in the last quarter. Guggenheim Capital LLC grew its holdings in Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after acquiring an additional 1,578 shares in the last quarter. Finally, Glenview Trust co increased its position in shares of Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after purchasing an additional 25,555 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.0%

EPD stock opened at $36.60 on Friday. The firm has a market cap of $79.12 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.30 and a beta of 0.49. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The firm has a fifty day moving average price of $37.87 and a two-hundred day moving average price of $35.81. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EPD. TD Cowen restated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Royal Bank Of Canada lifted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Truist Financial boosted their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. UBS Group restated a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday. Finally, Citigroup reaffirmed a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and an average price target of $39.94.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.