Challenger Wealth Management Purchases Shares of 8,370 Enterprise Products Partners L.P. (NYSE:EPD)

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

Several other large investors have also bought and sold shares of the company. Griffin Asset Management Inc. raised its position in shares of Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock valued at $1,203,000 after purchasing an additional 305 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock valued at $78,000 after purchasing an additional 308 shares during the last quarter. Hardy Reed LLC raised its position in shares of Enterprise Products Partners by 2.2% in the 4th quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer's stock valued at $461,000 after purchasing an additional 310 shares during the last quarter. Colonial Trust Co SC raised its position 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. Finally, Tidemark LLC raised its position in shares of 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 purchasing an additional 318 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EPD has been the subject of several research reports. Royal Bank of Canada restated an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. JPMorgan Chase & Co. lifted 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. Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Morgan Stanley lifted 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. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $36.56.

Enterprise Products Partners Stock Performance

NYSE:EPD traded up $0.21 during midday trading on Tuesday, reaching $31.50. The stock had a trading volume of 2,803,165 shares, compared to its average volume of 4,389,404. The firm has a fifty day simple moving average of $31.42 and a two-hundred day simple moving average of $32.24. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-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 $68.32 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 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 analysts' expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.79%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is presently 80.15%.

About Enterprise Products Partners

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.