Crowley Wealth Management Inc. Makes New $30,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, Holdings Channel reports. The fund purchased 950 shares of the oil and gas producer’s stock, valued at approximately $30,000.

A number of other institutional investors have also made changes to their positions in EPD. Kayne Anderson Capital Advisors LP increased its stake in shares of Enterprise Products Partners by 16.7% in the fourth 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 purchasing an additional 1,947,017 shares during the period. Barclays PLC increased its stake in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the period. FMR LLC increased its stake in shares of 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 worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Merewether Investment Management LP bought a new position in shares of Enterprise Products Partners in the third quarter worth about $30,746,000. Finally, Strategic Financial Concepts LLC increased its stake in shares of Enterprise Products Partners by 3,884.7% in 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 purchasing an additional 665,716 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EPD has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Morgan Stanley boosted their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Trading Down 1.2 %

EPD stock opened at $33.69 on Monday. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The firm has a market cap of $72.95 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.37 and a beta of 1.08. The business’s 50 day moving average is $33.41 and its 200-day moving average is $31.58. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Enterprise Products Partners Company 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.