Institute for Wealth Management LLC. Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Institute for Wealth Management LLC. bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,636 shares of the oil and gas producer’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hazlett Burt & Watson Inc. increased its holdings in shares of Enterprise Products Partners by 8.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after acquiring an additional 371 shares during the last quarter. Ellsworth Advisors LLC lifted its stake in shares of Enterprise Products Partners by 1.9% during the 3rd quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock worth $573,000 after buying an additional 380 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Enterprise Products Partners by 3.3% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock worth $328,000 after buying an additional 386 shares during the period. Register Financial Advisors LLC raised its holdings in Enterprise Products Partners by 2.3% in the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after acquiring an additional 397 shares during the period. Finally, Your Advocates Ltd. LLP boosted its holdings in shares of Enterprise Products Partners by 1.9% during the third quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock worth $615,000 after acquiring an additional 412 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EPD. Stifel Nicolaus increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Scotiabank increased their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Truist Financial raised their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Mizuho reaffirmed a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Trading Up 1.4 %

Shares of NYSE EPD opened at $28.84 on Monday. The firm has a 50 day moving average price of $28.36 and a two-hundred day moving average price of $27.27. The stock has a market cap of $62.53 billion, a P/E ratio of 11.44 and a beta of 1.02. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

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.