Tyche Wealth Partners LLC Buys Shares of 30,501 Enterprise Products Partners L.P. (NYSE:EPD)

Tyche Wealth Partners LLC purchased 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 filing with the SEC. The institutional investor purchased 30,501 shares of the oil and gas producer’s stock, valued at approximately $804,000.

Several other large investors also recently added to or reduced their stakes in EPD. Miller Howard Investments Inc. NY lifted its holdings in Enterprise Products Partners by 7.1% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 3,189,590 shares of the oil and gas producer’s stock worth $87,299,000 after purchasing an additional 210,603 shares in the last quarter. Cerity Partners LLC boosted its holdings in Enterprise Products Partners by 89.9% in the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares during the period. Kingsview Wealth Management LLC raised its position in shares of Enterprise Products Partners by 8.7% in the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock worth $1,055,000 after buying an additional 3,075 shares in the last quarter. Cullen Investment Group LTD. bought a new position in Enterprise Products Partners in the 4th quarter worth about $7,542,000. Finally, Sapient Capital LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $3,271,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of research analyst reports. Truist Financial increased their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company increased their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Down 0.6 %

Enterprise Products Partners stock traded down $0.18 during mid-day trading on Wednesday, reaching $28.33. The stock had a trading volume of 6,359,680 shares, compared to its average volume of 4,421,131. The company has a market capitalization of $61.43 billion, a price-to-earnings ratio of 11.25 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99. The company has a 50-day moving average price of $28.22 and a two-hundred day moving average price of $27.24.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.62 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.27%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

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.