Keudell Morrison Wealth Management Invests $450,000 in Enterprise Products Partners L.P. $EPD

Keudell Morrison Wealth Management acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 14,048 shares of the oil and gas producer’s stock, valued at approximately $450,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EPD. Energy Income Partners LLC lifted its position in Enterprise Products Partners by 0.6% during the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after buying an additional 80,884 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Enterprise Products Partners by 1.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer’s stock worth $361,810,000 after acquiring an additional 214,995 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $292,194,000. Berkley W R Corp lifted its holdings in shares of Enterprise Products Partners by 17.9% during the 3rd quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock valued at $187,620,000 after acquiring an additional 910,206 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Enterprise Products Partners by 7.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after acquiring an additional 327,807 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent research reports. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Truist Financial upped their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada raised their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Finally, JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.67.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $39.55 on Friday. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The company has a market capitalization of $85.49 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The firm’s fifty day moving average price is $38.05 and its 200 day moving average price is $35.01.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The business’s quarterly revenue was down 6.7% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.95 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.6%. Enterprise Products Partners’s payout ratio is currently 81.48%.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 32.60% of the stock is owned by corporate insiders.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.