Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 20.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,150 shares of the oil and gas producer’s stock after buying an additional 6,419 shares during the period. Kingsview Wealth Management LLC’s holdings in Enterprise Products Partners were worth $883,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Enterprise Products Partners by 4.7% in the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after purchasing an additional 1,114,690 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Enterprise Products Partners by 1.5% in the third quarter. Neuberger Berman Group LLC now owns 19,014,357 shares of the oil and gas producer’s stock worth $452,162,000 after acquiring an additional 276,360 shares in the last quarter. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 6.3% in the third quarter. Energy Income Partners LLC now owns 14,701,701 shares of the oil and gas producer’s stock worth $349,607,000 after acquiring an additional 871,211 shares in the last quarter. FMR LLC increased its position in shares of Enterprise Products Partners by 1.5% in the second quarter. FMR LLC now owns 12,779,225 shares of the oil and gas producer’s stock worth $311,430,000 after acquiring an additional 194,468 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Enterprise Products Partners by 12.5% in the first quarter. Clearbridge Investments LLC now owns 11,888,708 shares of the oil and gas producer’s stock worth $306,848,000 after acquiring an additional 1,323,267 shares in the last quarter. Institutional investors and hedge funds own 26.54% of the company’s stock.

Insider Activity

In other news, Director Carin Marcy Barth purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, December 27th. The shares were bought at an average price of $23.99 per share, with a total value of $119,950.00. Following the completion of the transaction, the director now directly owns 75,776 shares in the company, valued at approximately $1,817,866.24. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Aj Teague purchased 3,650 shares of the company’s stock in a transaction dated Tuesday, December 27th. The shares were bought at an average price of $24.09 per share, with a total value of $87,928.50. Following the completion of the transaction, the chief executive officer now directly owns 2,337,775 shares in the company, valued at approximately $56,316,999.75. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Carin Marcy Barth bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 27th. The shares were bought at an average cost of $23.99 per share, for a total transaction of $119,950.00. Following the transaction, the director now directly owns 75,776 shares of the company’s stock, valued at approximately $1,817,866.24. The disclosure for this purchase can be found here. Insiders have bought a total of 29,800 shares of company stock valued at $707,019 over the last 90 days. 32.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EPD. TD Securities lifted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, March 9th. Citigroup initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, December 8th. They issued a “buy” rating and a $31.00 target price on the stock. Wolfe Research upgraded shares of Enterprise Products Partners from a “peer perform” rating to an “outperform” rating and set a $27.00 price target for the company in a report on Monday, January 9th. Finally, Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Thursday, March 2nd. They set a “sector outperform” rating and a $31.00 price target for the company. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.83.

Enterprise Products Partners Price Performance

NYSE EPD opened at $25.69 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $55.77 billion, a PE ratio of 10.28 and a beta of 1.10. The company has a 50 day moving average price of $25.83 and a two-hundred day moving average price of $25.21. Enterprise Products Partners L.P. has a 12-month low of $22.90 and a 12-month high of $28.65.

Enterprise Products Partners (NYSE:EPD – Get Rating) last posted its earnings results on Wednesday, February 1st. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The firm had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $14.74 billion. Enterprise Products Partners had a net margin of 9.43% and a return on equity of 20.38%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.5 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st were given a $0.49 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.48. The ex-dividend date was Monday, January 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 7.63%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.40%.

Enterprise Products Partners Profile

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Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.