New Wave Wealth Advisors LLC Takes $40,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

New Wave Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,273 shares of the oil and gas producer’s stock, valued at approximately $40,000.

Other large investors have also bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of Enterprise Products Partners by 2.3% in the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock valued at $739,000 after purchasing an additional 570 shares during the period. Silvia Mccoll Wealth Management LLC increased its holdings in Enterprise Products Partners by 3.1% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 21,502 shares of the oil and gas producer’s stock valued at $626,000 after purchasing an additional 640 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Enterprise Products Partners by 4.2% in the third quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer’s stock valued at $1,066,000 after buying an additional 1,474 shares during the period. Duncan Williams Asset Management LLC bought a new position in Enterprise Products Partners during the third quarter worth about $226,000. Finally, Cullen Investment Group LTD. grew its position in shares of Enterprise Products Partners by 0.8% during the 3rd quarter. Cullen Investment Group LTD. now owns 258,806 shares of the oil and gas producer’s stock worth $7,534,000 after buying an additional 1,979 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EPD shares. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Trading Down 4.0 %

NYSE:EPD opened at $32.70 on Friday. The company has a market cap of $70.87 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63. The business has a 50 day moving average price of $32.53 and a two-hundred day moving average price of $30.51. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.55%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

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.