American Money Management LLC Takes $214,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

American Money Management LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 6,813 shares of the oil and gas producer’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. Rosenberg Matthew Hamilton grew its stake in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC boosted its holdings in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the 4th quarter worth about $30,000. Finally, Bangor Savings Bank increased its stake in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 0.4 %

EPD stock opened at $34.09 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The firm has a market capitalization of $73.83 billion, a PE ratio of 12.67, a PEG 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. The stock has a 50-day simple moving average of $33.46 and a two-hundred day simple moving average of $31.73.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Analyst Ratings Changes

EPD has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. Morgan Stanley increased their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Truist Financial increased their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

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.