6,595 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Castle Wealth Management LLC

Castle Wealth Management LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,595 shares of the oil and gas producer’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also modified their holdings of EPD. Tidemark LLC boosted its holdings in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $30,000. Security National Bank bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $30,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $31,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $31.41 on Thursday. The company has a 50 day moving average of $31.25 and a 200-day moving average of $32.06. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. The company has a market cap of $68.13 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period last year, the company posted $0.66 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Scotiabank boosted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. JPMorgan Chase & Co. boosted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Finally, Morgan Stanley boosted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.56.

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.