3,241 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,241 shares of the oil and gas producer’s stock, valued at approximately $85,000.

Other hedge funds also recently made changes to their positions in the company. Rational Advisors LLC purchased a new stake in Enterprise Products Partners during the third quarter valued at approximately $43,000. Financial Gravity Asset Management Inc. purchased a new stake in Enterprise Products Partners during the third quarter valued at approximately $48,000. Headinvest LLC purchased a new stake in Enterprise Products Partners during the third quarter valued at approximately $62,000. Allspring Global Investments Holdings LLC raised its position in Enterprise Products Partners by 31.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock valued at $68,000 after purchasing an additional 614 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $70,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 0.6 %

Shares of NYSE EPD opened at $29.01 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $62.89 billion, a PE ratio of 11.51 and a beta of 1.02. The stock’s fifty day simple moving average is $28.41 and its two-hundred day simple moving average is $27.28. Enterprise Products Partners L.P. has a 12-month low of $25.19 and a 12-month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.10%. Enterprise Products Partners’s dividend payout ratio is presently 81.75%.

Analyst Ratings Changes

A number of brokerages have issued reports on EPD. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Wells Fargo & Company upped their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Stifel Nicolaus upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Barclays upped their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $32.58.

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.