Congress Wealth Management LLC DE Has $14.50 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Congress Wealth Management LLC DE grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 462,267 shares of the oil and gas producer’s stock after acquiring an additional 14,550 shares during the period. Congress Wealth Management LLC DE’s holdings in Enterprise Products Partners were worth $14,497,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of EPD. Kayne Anderson Capital Advisors LP lifted its holdings in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares in the last quarter. Barclays PLC lifted its holdings in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. FMR LLC lifted its stake in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Merewether Investment Management LP bought a new stake in Enterprise Products Partners in the 3rd quarter valued at $30,746,000. Finally, Strategic Financial Concepts LLC boosted its position in shares of Enterprise Products Partners by 3,884.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock worth $21,414,000 after buying an additional 665,716 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Scotiabank boosted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Barclays upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Trading Down 0.4 %

Shares of NYSE:EPD opened at $33.70 on Tuesday. The stock has a market cap of $72.98 billion, a PE ratio of 12.53, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The business has a 50 day moving average of $33.43 and a 200-day moving average of $31.61.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.35%. Enterprise Products Partners’s payout ratio is 79.55%.

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.