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

Uniting Wealth Partners LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,160 shares of the oil and gas producer's stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 656 shares during the period. Tidemark LLC boosted its position in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in Enterprise Products Partners during the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth approximately $30,000. Finally, National Bank of Canada FI lifted its stake in Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 360 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of EPD traded down $0.59 during trading hours on Thursday, hitting $33.46. The company's stock had a trading volume of 7,634,928 shares, compared to its average volume of 4,210,517. The company has a market cap of $72.46 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business has a 50 day simple moving average of $33.47 and a two-hundred day simple moving average of $31.84. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $35.62.

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Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS 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 during the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company earned $0.72 earnings per share. The business's revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.40%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners's dividend payout ratio is presently 79.55%.

Analysts Set New Price Targets

EPD has been the subject of several research analyst reports. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Royal Bank of Canada reissued an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Morgan Stanley boosted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.60.

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.