Geneos Wealth Management Inc. Buys 512 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Geneos Wealth Management Inc. lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,665 shares of the oil and gas producer’s stock after buying an additional 512 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Enterprise Products Partners were worth $805,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pathway Financial Advisers LLC grew its holdings in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Barclays PLC grew its holdings in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC increased its position in Enterprise Products Partners by 2,854.1% in the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. FMR LLC raised its stake in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP bought a new position in Enterprise Products Partners during the third quarter valued at $30,746,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners Stock Down 0.3 %

NYSE:EPD opened at $33.46 on Tuesday. The company has a market cap of $72.52 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $32.38 and a 200-day simple moving average of $30.40.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.40%. Enterprise Products Partners’s payout ratio is presently 78.65%.

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.