Tempus Wealth Planning LLC Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Tempus Wealth Planning LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, Holdings Channel reports. The fund bought 8,784 shares of the oil and gas producer’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Montreal Can raised its holdings in Enterprise Products Partners by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock worth $739,000 after buying an additional 570 shares during the period. Park Avenue Securities LLC raised its holdings in shares of Enterprise Products Partners by 4.2% during the third quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer’s stock valued at $1,066,000 after acquiring an additional 1,474 shares during the period. SL Advisors LLC lifted its position in shares of Enterprise Products Partners by 3.1% in the 3rd quarter. SL Advisors LLC now owns 73,064 shares of the oil and gas producer’s stock valued at $2,127,000 after acquiring an additional 2,226 shares in the last quarter. Strategic Wealth Partners Ltd. boosted its stake in Enterprise Products Partners by 3.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 353 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in Enterprise Products Partners during the 3rd quarter worth approximately $178,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on EPD shares. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Wells Fargo & Company lowered 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. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.44.

Enterprise Products Partners Trading Down 0.5 %

Shares of EPD stock opened at $32.97 on Wednesday. The firm has a fifty day moving average of $32.55 and a 200-day moving average of $30.57. The stock has a market cap of $71.46 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 1.54 and a beta of 1.09. Enterprise Products Partners L.P. has a 52-week low of $26.12 and a 52-week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.49%. Enterprise Products Partners’s payout ratio is currently 80.15%.

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.