16,300 Shares in Enterprise Products Partners L.P. $EPD Purchased by Vertrix Wealth Management LLC

Vertrix Wealth Management LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,300 shares of the oil and gas producer’s stock, valued at approximately $617,000.

Several other hedge funds have also recently modified their holdings of EPD. Auto Owners Insurance Co increased its position in shares of Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after acquiring an additional 31,060,000 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in Enterprise Products Partners in the 3rd quarter valued at $292,194,000. Goldman Sachs Group Inc. grew its stake in Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after purchasing an additional 1,940,583 shares during the period. Corient Private Wealth LLC increased its position in shares of Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after purchasing an additional 1,313,976 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Enterprise Products Partners by 57.5% during the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock worth $93,874,000 after purchasing an additional 1,069,304 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Scotiabank restated a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Finally, Barclays lifted their price target on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.94.

Enterprise Products Partners Trading Down 0.5%

Shares of EPD opened at $36.56 on Thursday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The business has a 50-day moving average of $37.78 and a 200 day moving average of $36.08. The firm has a market cap of $79.04 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

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.