Waterfront Wealth Inc. Grows Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Waterfront Wealth Inc. grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,732 shares of the oil and gas producer’s stock after purchasing an additional 603 shares during the period. Waterfront Wealth Inc.’s holdings in Enterprise Products Partners were worth $968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its stake in shares of Enterprise Products Partners by 104,195.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after buying an additional 132,237,142 shares during the period. Cowa LLC boosted its position in Enterprise Products Partners by 9,906.0% during the first quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after purchasing an additional 7,675,795 shares in the last quarter. Alps Advisors Inc. boosted its position in Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares in the last quarter. Morgan Stanley boosted its position in Enterprise Products Partners by 17.6% during the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after purchasing an additional 3,102,695 shares in the last quarter. Finally, Blackstone Inc. boosted its position in Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Truist Financial raised their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, Scotiabank raised their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Performance

EPD stock traded up $0.12 during trading on Thursday, hitting $28.51. 1,126,496 shares of the company traded hands, compared to its average volume of 4,894,167. The stock’s 50-day simple moving average is $28.27 and its 200 day simple moving average is $27.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market cap of $61.82 billion, a PE ratio of 11.27 and a beta of 1.02. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.65 earnings per share. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.63 earnings per share 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 given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

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.