Independent Advisor Alliance Boosts Holdings in Enterprise Products Partners L.P. $EPD

Independent Advisor Alliance boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 41.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,658 shares of the oil and gas producer’s stock after acquiring an additional 55,729 shares during the period. Independent Advisor Alliance’s holdings in Enterprise Products Partners were worth $6,048,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PMV Capital Advisers LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth $25,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the third quarter worth $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the third quarter worth $32,000. Texas Capital Bancshares Inc TX purchased a new position in shares of Enterprise Products Partners during the third quarter worth $32,000. Finally, Daytona Street Capital LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Insider Activity

In related news, CEO Aj Teague bought 2,665 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 32.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Scotiabank reissued a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday. UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Morgan Stanley restated an “underweight” rating and set a $42.00 price target on shares of Enterprise Products Partners in a research report on Tuesday, April 14th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Hold” and an average price target of $39.13.

Enterprise Products Partners Stock Up 0.9%

Shares of NYSE EPD opened at $38.26 on Wednesday. The company’s 50-day simple moving average is $37.71 and its 200-day simple moving average is $34.57. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $39.74. The firm has a market cap of $82.70 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 2.92 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be given a $0.55 dividend. The ex-dividend date is Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Enterprise Products Partners Company 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.