20,606 Shares of Enterprise Products Partners L.P. $EPD Bought by Leo Wealth LLC

Leo Wealth LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,606 shares of the oil and gas producer’s stock, valued at approximately $734,000.

Several other hedge funds have also modified their holdings of EPD. N.E.W. Advisory Services LLC acquired a new position in Enterprise Products Partners during the second quarter worth approximately $37,000. Bravera Wealth raised its stake in Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 900 shares during the period. Markowski Investments acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $46,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $48,000. Finally, West Paces Advisors Inc. purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $55,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.3%

NYSE EPD opened at $36.98 on Tuesday. Enterprise Products Partners L.P. has a one year low of $30.02 and a one year high of $40.17. The company’s 50 day moving average price is $37.73 and its 200 day moving average price is $37.11. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The firm has a market capitalization of $79.87 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.32 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the previous year, the company posted $0.66 earnings per share. Enterprise Products Partners’s revenue was up 60.8% compared to the same quarter last year. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 3.10 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 77.78%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stifel Nicolaus initiated coverage on Enterprise Products Partners in a report on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. Wall Street Zen raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Hold” and a consensus target price of $40.12.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.