Challenger Wealth Management Makes New $262,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Challenger Wealth Management purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,370 shares of the oil and gas producer's stock, valued at approximately $262,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tidemark LLC increased its position in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $30,000. National Bank of Canada FI boosted its stake in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 360 shares during the last quarter. Finally, Colonial Trust Co SC boosted its stake in shares of Enterprise Products Partners by 44.9% in the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 314 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 1.1%

NYSE EPD traded down $0.34 on Thursday, hitting $31.10. 2,150,565 shares of the company were exchanged, compared to its average volume of 5,071,587. The company has a market cap of $67.44 billion, a PE ratio of 11.56, a PEG ratio of 1.37 and a beta of 0.67. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The stock has a fifty day moving average of $31.33 and a 200-day moving average of $32.23. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data 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 business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.88%. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

Analysts Set New Price Targets

EPD has been the topic of a number of analyst reports. Morgan Stanley upped 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 research note on Tuesday, March 11th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Scotiabank upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Barclays reduced their price objective on shares of Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.