Inlight Wealth Management LLC Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Inlight Wealth Management LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,653 shares of the oil and gas producer's stock, valued at approximately $397,000.

Several other hedge funds have also made changes to their positions in the business. Quantinno Capital Management LP purchased a new position in Enterprise Products Partners in the third quarter worth approximately $263,000. Orion Portfolio Solutions LLC increased its holdings in Enterprise Products Partners by 18.7% in the third quarter. Orion Portfolio Solutions LLC now owns 13,808 shares of the oil and gas producer's stock valued at $402,000 after buying an additional 2,178 shares during the last quarter. MML Investors Services LLC lifted its holdings in Enterprise Products Partners by 13.1% during the 3rd quarter. MML Investors Services LLC now owns 127,600 shares of the oil and gas producer's stock worth $3,714,000 after buying an additional 14,806 shares during the last quarter. Barclays PLC increased its holdings in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Enterprise Products Partners by 3.7% in the third quarter. TD Private Client Wealth LLC now owns 100,614 shares of the oil and gas producer's stock valued at $2,929,000 after purchasing an additional 3,546 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

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Enterprise Products Partners Stock Performance

NYSE:EPD traded up $0.62 during mid-day trading on Tuesday, reaching $30.94. The stock had a trading volume of 2,137,701 shares, compared to its average volume of 4,377,342. 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 business has a 50 day simple moving average of $32.79 and a 200 day simple moving average of $31.87. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The firm has a market capitalization of $67.01 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Enterprise Products Partners's quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 79.55%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Scotiabank upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. StockNews.com upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Tuesday. Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Finally, Wolfe Research cut shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.89.

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.