Allen Wealth Management LLC Buys 1,977 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Allen Wealth Management LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,898 shares of the oil and gas producer’s stock after purchasing an additional 1,977 shares during the period. Allen Wealth Management LLC’s holdings in Enterprise Products Partners were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EPD. Townsquare Capital LLC boosted its position in shares of 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 valued at $696,000 after acquiring an additional 6,203 shares during the period. Chevy Chase Trust Holdings LLC boosted its holdings in 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 valued at $243,000 after purchasing an additional 850 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Enterprise Products Partners by 0.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 122,371 shares of the oil and gas producer’s stock valued at $3,562,000 after purchasing an additional 669 shares during the period. IHT Wealth Management LLC grew its position in shares of Enterprise Products Partners by 17.0% during the 3rd quarter. IHT Wealth Management LLC now owns 71,335 shares of the oil and gas producer’s stock worth $2,080,000 after purchasing an additional 10,350 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. bought a new position in shares of Enterprise Products Partners during the third quarter worth approximately $245,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $34.06 on Thursday. The firm’s fifty day moving average price is $33.47 and its two-hundred day moving average price is $31.83. The stock has a market cap of $73.76 billion, a PE ratio of 12.66, a PEG ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $35.62.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping 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 business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the company posted $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.28%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Analyst Ratings Changes

EPD has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Scotiabank raised their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Finally, Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

Enterprise Products Partners 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.