Naviter Wealth LLC Makes New $275,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Naviter Wealth LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,073 shares of the oil and gas producer's stock, valued at approximately $275,000.

Other hedge funds also recently bought and sold shares of the company. Security National Bank purchased a new position in Enterprise Products Partners during the first quarter worth about $30,000. Alpine Bank Wealth Management purchased a new position in Enterprise Products Partners during the first quarter worth about $31,000. Tidemark LLC boosted its stake in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after buying an additional 318 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $29,000. Finally, Crowley Wealth Management Inc. purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EPD. Barclays lowered their price objective on shares of Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, May 20th. Royal Bank Of Canada reissued an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Morgan Stanley raised 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. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Four equities research 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.67.

Enterprise Products Partners Stock Down 0.1%

Shares of NYSE:EPD opened at $31.06 on Monday. The firm's 50 day moving average price is $31.21 and its 200 day moving average price is $32.08. The stock has a market cap of $67.37 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.29 and a beta of 0.65. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

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 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same period last year, the business earned $0.66 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.535 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.89%. Enterprise Products Partners's payout ratio is currently 80.15%.

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.

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.