Alteri Wealth LLC Makes New $435,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Alteri Wealth LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,869 shares of the oil and gas producer's stock, valued at approximately $435,000.

Several other large investors also recently modified their holdings of the stock. Verity & Verity LLC increased its position in 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 worth $3,470,000 after buying an additional 26,032 shares during the last quarter. Spinnaker Trust purchased a new stake in Enterprise Products Partners in the 4th quarter worth about $280,000. FourThought Financial Partners LLC raised its stake in Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock valued at $4,407,000 after acquiring an additional 21,970 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Enterprise Products Partners by 7.3% during 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 during the last quarter. Finally, Franklin Resources Inc. boosted its position in Enterprise Products Partners by 16.2% during the third quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer's stock worth $4,628,000 after purchasing an additional 21,834 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $30.41 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve 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. The stock has a market cap of $65.86 billion, a P/E ratio of 11.30, a PEG ratio of 1.37 and a beta of 0.78. The business's 50-day moving average price is $32.06 and its two-hundred day moving average price is $31.99.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 7.04%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Barclays boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Morgan Stanley raised their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Scotiabank raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.89.

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.

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