Puff Wealth Management LLC Acquires New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Puff Wealth Management LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,645 shares of the oil and gas producer’s stock, valued at approximately $208,000.

Other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC lifted its stake 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 worth $225,777,000 after acquiring an additional 7,494,224 shares in the last quarter. Barclays PLC lifted its position in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of 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 valued at $37,474,000 after purchasing an additional 1,243,741 shares during the period. FMR LLC grew its holdings in shares of Enterprise Products Partners by 9.3% in 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 purchased a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $30,746,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup boosted their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Scotiabank started coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Four 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Up 0.9 %

EPD opened at $33.52 on Friday. Enterprise Products Partners L.P. has a one year low of $26.64 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market capitalization of $72.65 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The business’s 50-day simple moving average is $32.50 and its 200-day simple moving average is $30.76.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were 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 annualized dividend and a yield of 6.39%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

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.