16,300 Shares in Enterprise Products Partners L.P. $EPD Purchased by Vertrix Wealth Management LLC

Vertrix Wealth Management LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, Holdings Channel reports. The fund bought 16,300 shares of the oil and gas producer’s stock, valued at approximately $617,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. grew its stake in Enterprise Products Partners by 0.6% during the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after acquiring an additional 260,305 shares in the last quarter. Auto Owners Insurance Co lifted its stake in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares in the last quarter. Morgan Stanley boosted its holdings in Enterprise Products Partners by 4.8% in the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after purchasing an additional 883,983 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after purchasing an additional 1,940,583 shares during the period. Finally, Energy Income Partners LLC grew its position in shares of Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after purchasing an additional 80,884 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EPD. Scotiabank reiterated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 15th. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. The Goldman Sachs Group reiterated a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, Barclays boosted their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.94.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $36.56 on Thursday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The stock has a market cap of $79.04 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.31 and a beta of 0.49. The stock’s 50 day simple moving average is $37.78 and its two-hundred day simple moving average is $36.08. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.

Enterprise Products Partners Company 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.