Crowley Wealth Management Inc. Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 950 shares of the oil and gas producer’s stock, valued at approximately $30,000.

Several other hedge funds also recently modified their holdings of EPD. Advisors Asset Management Inc. increased its position in shares of Enterprise Products Partners by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,871 shares of the oil and gas producer’s stock valued at $2,412,000 after purchasing an additional 607 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth $372,000. Nwam LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth $629,000. Certified Advisory Corp grew its holdings in shares of Enterprise Products Partners by 68.6% in the 3rd quarter. Certified Advisory Corp now owns 23,077 shares of the oil and gas producer’s stock worth $672,000 after acquiring an additional 9,388 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in shares of Enterprise Products Partners by 9.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 102,446 shares of the oil and gas producer’s stock worth $2,982,000 after acquiring an additional 8,894 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EPD shares. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank lifted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, Barclays lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Four 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. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Price Performance

EPD opened at $33.69 on Monday. The stock has a market cap of $72.95 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a fifty day moving average price of $33.41 and a 200 day moving average price of $31.58.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Enterprise Products Partners 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.