Waterfront Wealth Inc. Has $406,000 Stake in Enterprise Products Partners L.P. $EPD

Key Points

• Waterfront Wealth Inc. cut its holding in Enterprise Products Partners by 75% in Q4, selling 36,751 shares and leaving 12,283 shares valued at $406,000.
• CEO Aj Teague bought 2,665 shares at $37.55 on March 20, increasing his stake to 77,576 shares (a 3.56% rise), and insiders now own 32.60% of the company.
• Enterprise Products Partners declared a quarterly dividend of $0.55 (ex-dividend April 30, payable May 14), implying a $2.20 annualized payout and a 6.0% yield with a payout ratio of 82.7%.

Waterfront Wealth Inc. lowered its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 75.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,283 shares of the oil and gas producer's stock after selling 36,751 shares during the period. Waterfront Wealth Inc.'s holdings in Enterprise Products Partners were worth $406,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PMV Capital Advisers LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $31,000. Abich Financial Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $32,000. Texas Capital Bancshares Inc TX acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $32,000. Finally, Financial Consulate Inc. acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Insider Activity

In other news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The stock was purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the purchase, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $36.66 on Monday. Enterprise Products Partners L.P. has a 1 year low of $29.66 and a 1 year high of $39.74. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The firm has a market cap of $79.25 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.41 and a beta of 0.55. The company has a fifty day moving average price of $37.16 and a 200-day moving average price of $33.84.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The firm had revenue of $13.79 billion during the quarter, compared to analyst estimates of $12.44 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The business's revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be paid a $0.55 dividend. The ex-dividend date is Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners's dividend payout ratio is presently 82.71%.

Analysts Set New Price Targets

EPD has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a "hold" rating in a research report on Tuesday, March 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Scotiabank boosted their target price on shares of Enterprise Products Partners from $37.00 to $39.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 17th. Finally, UBS Group reiterated a "buy" rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.27.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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