FSB Premier Wealth Management Inc. Makes New $294,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

FSB Premier Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,389 shares of the oil and gas producer’s stock, valued at approximately $294,000.

Other hedge funds also recently modified their holdings of the company. Townsquare Capital LLC raised its position in Enterprise Products Partners by 35.0% in the third quarter. Townsquare Capital LLC now owns 23,920 shares of the oil and gas producer’s stock worth $696,000 after acquiring an additional 6,203 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its holdings in shares of Enterprise Products Partners by 11.3% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 8,350 shares of the oil and gas producer’s stock worth $243,000 after purchasing an additional 850 shares in the last quarter. Hollow Brook Wealth Management LLC lifted its stake in Enterprise Products Partners by 4.0% during the third quarter. Hollow Brook Wealth Management LLC now owns 201,954 shares of the oil and gas producer’s stock valued at $5,879,000 after purchasing an additional 7,718 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in Enterprise Products Partners by 14.4% during the third quarter. Hilltop Holdings Inc. now owns 103,556 shares of the oil and gas producer’s stock worth $3,014,000 after buying an additional 12,999 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Enterprise Products Partners by 0.5% in the third quarter. Integrated Wealth Concepts LLC now owns 122,371 shares of the oil and gas producer’s stock worth $3,562,000 after buying an additional 669 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.2 %

EPD stock opened at $34.14 on Tuesday. The company has a 50 day moving average of $33.47 and a two-hundred day moving average of $31.78. The company has a market cap of $73.93 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. 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 released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.27%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 79.55%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Morgan Stanley increased their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Truist Financial raised their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

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.