Allen Mooney & Barnes Investment Advisors LLC Has $16.56 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Allen Mooney & Barnes Investment Advisors LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 516,486 shares of the oil and gas producer’s stock after purchasing an additional 21,460 shares during the quarter. Enterprise Products Partners accounts for 2.5% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 12th biggest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $16,559,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. PMV Capital Advisers LLC acquired a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners in the 3rd quarter valued at $31,000. Abich Financial Wealth Management LLC acquired a new position in Enterprise Products Partners in the 3rd quarter worth $32,000. Texas Capital Bancshares Inc TX bought a new position in Enterprise Products Partners during the 3rd quarter worth about $32,000. Finally, Financial Consulate Inc. bought a new position in Enterprise Products Partners during the 3rd quarter worth about $33,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EPD has been the topic of a number of research reports. Morgan Stanley boosted their price target on Enterprise Products Partners from $34.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, March 18th. Truist Financial assumed coverage on Enterprise Products Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $36.00 target price on the stock. Royal Bank Of Canada boosted their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. Finally, UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.73.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Stock Down 0.0%

EPD stock opened at $37.56 on Monday. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $39.74. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The stock has a market capitalization of $81.20 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.50 and a beta of 0.55. The business’s fifty day moving average price is $36.46 and its two-hundred day moving average price is $33.42.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The company had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Friday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.71%.

Enterprise Products Partners Profile

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.