Tyche Wealth Partners LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Tyche Wealth Partners LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,501 shares of the oil and gas producer’s stock, valued at approximately $804,000.

Several other large investors have also recently bought and sold shares of EPD. Moneta Group Investment Advisors LLC grew its stake in shares of Enterprise Products Partners by 104,195.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock worth $3,192,621,000 after purchasing an additional 132,237,142 shares during the period. Alps Advisors Inc. increased its stake in shares of Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares during the last quarter. BlackRock Inc. raised its position in shares of Enterprise Products Partners by 4.7% in the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after acquiring an additional 1,114,690 shares during the period. Blackstone Inc. boosted its stake in Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after acquiring an additional 2,472,847 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Enterprise Products Partners by 17.6% during the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after purchasing an additional 3,102,695 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD traded down $0.18 during mid-day trading on Wednesday, reaching $28.33. The company’s stock had a trading volume of 6,359,680 shares, compared to its average volume of 4,421,131. 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 stock has a market cap of $61.43 billion, a P/E ratio of 11.25 and a beta of 1.02. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The business has a 50-day simple moving average of $28.22 and a two-hundred day simple moving average of $27.24.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.62 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 81.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Mizuho reissued a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Barclays lifted their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Truist Financial increased their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Finally, Scotiabank increased their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Company 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.