Executive Wealth Management LLC Takes $498,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Executive Wealth Management LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,116 shares of the oil and gas producer's stock, valued at approximately $498,000.

Several other large investors have also made changes to their positions in the company. Curi RMB Capital LLC raised its position in shares of Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer's stock worth $2,149,000 after buying an additional 339 shares during the period. Zega Financial LLC raised its position in shares of Enterprise Products Partners by 1.7% in the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer's stock worth $608,000 after buying an additional 344 shares during the period. Tranquility Partners LLC increased its holdings in Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer's stock valued at $675,000 after purchasing an additional 346 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Enterprise Products Partners by 4.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer's stock valued at $219,000 after purchasing an additional 350 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. increased its holdings in Enterprise Products Partners by 3.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer's stock valued at $283,000 after purchasing an additional 353 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 0.7 %

NYSE:EPD traded up $0.23 during mid-day trading on Wednesday, reaching $32.42. The stock had a trading volume of 2,731,697 shares, compared to its average volume of 4,323,620. The company has a market capitalization of $70.27 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Enterprise Products Partners L.P. has a 1-year low of $25.96 and a 1-year high of $34.63. The stock's 50 day simple moving average is $30.62 and its two-hundred day simple moving average is $29.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the business earned $0.60 EPS. The business's revenue was up 14.8% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.48%. Enterprise Products Partners's dividend payout ratio is currently 78.65%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EPD shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Finally, Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a "buy" rating and a $35.00 target price for the company. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $34.00.

Enterprise Products Partners 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.