Bridgewealth Advisory Group LLC Purchases 697 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Bridgewealth Advisory Group LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,025 shares of the oil and gas producer’s stock after acquiring an additional 697 shares during the period. Bridgewealth Advisory Group LLC’s holdings in Enterprise Products Partners were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Verity & Verity LLC boosted its holdings in shares of Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after buying an additional 26,032 shares during the period. Spinnaker Trust acquired a new position in Enterprise Products Partners in the 4th quarter worth $280,000. FourThought Financial Partners LLC increased its holdings in Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after purchasing an additional 21,970 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Enterprise Products Partners by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock valued at $9,726,000 after purchasing an additional 21,192 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Down 1.8 %

Enterprise Products Partners stock opened at $30.81 on Wednesday. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The stock has a market cap of $66.73 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.37 and a beta of 0.78. The company’s 50-day moving average price is $32.26 and its two-hundred day moving average price is $31.97. 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 results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate 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 $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period in the previous year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.95%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analysts Set New Price Targets

EPD has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. StockNews.com upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Barclays raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Company 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.