RWA Wealth Partners LLC Buys 10,502 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

RWA Wealth Partners LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 48.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,235 shares of the oil and gas producer’s stock after purchasing an additional 10,502 shares during the period. RWA Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its holdings in Enterprise Products Partners by 89.9% during the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after acquiring an additional 137,044 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Enterprise Products Partners by 8.7% during the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after buying an additional 3,075 shares during the last quarter. Cullen Investment Group LTD. purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at about $7,542,000. Sapient Capital LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at about $3,271,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at about $3,793,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on EPD shares. Barclays increased their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Scotiabank increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Truist Financial increased their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Stock Performance

EPD opened at $29.05 on Thursday. Enterprise Products Partners L.P. has a 12-month low of $25.19 and a 12-month high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $62.98 billion, a PE ratio of 11.53 and a beta of 1.02. The firm has a 50 day moving average of $28.51 and a two-hundred day moving average of $27.31.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same period last year, the firm posted $0.65 EPS. Enterprise Products Partners’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company 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 dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.09%. Enterprise Products Partners’s payout ratio is 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.