Leo Wealth LLC Buys 4,717 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Leo Wealth LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 22.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,796 shares of the oil and gas producer’s stock after acquiring an additional 4,717 shares during the quarter. Leo Wealth LLC’s holdings in Enterprise Products Partners were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Verity & Verity LLC boosted its stake in shares of Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after purchasing an additional 26,032 shares during the last quarter. Paragon Advisors LLC bought a new stake in Enterprise Products Partners during the third quarter valued at $2,628,000. FMR LLC grew its holdings in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp lifted its stake in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $32.96 on Friday. The stock has a 50 day moving average of $32.52 and a 200 day moving average of $30.62. The company has a market capitalization of $71.45 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a 12 month low of $26.14 and a 12 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.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Citigroup upped their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $34.70.

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.