Keudell Morrison Wealth Management Buys Shares of 14,048 Enterprise Products Partners L.P. $EPD

Keudell Morrison Wealth Management purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,048 shares of the oil and gas producer’s stock, valued at approximately $450,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. raised its position in shares of Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after buying an additional 3,742 shares in the last quarter. Guggenheim Capital LLC grew its holdings in Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after buying an additional 1,578 shares during the last quarter. Finally, Glenview Trust co increased its position in Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after buying an additional 25,555 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $39.55 on Friday. The business’s 50-day moving average price is $38.05 and its 200 day moving average price is $35.01. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a market capitalization of $85.49 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results 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 during 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%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.6%. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. TD Cowen restated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Royal Bank Of Canada boosted their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.67.

Insiders Place Their Bets

In related news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction on Friday, March 20th. The shares were bought at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 32.60% of the stock is currently owned by corporate insiders.

About Enterprise Products Partners

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.