Waterfront Wealth Inc. Sells 36,751 Shares of Enterprise Products Partners L.P. $EPD

Waterfront Wealth Inc. decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 75.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,283 shares of the oil and gas producer’s stock after selling 36,751 shares during the quarter. Waterfront Wealth Inc.’s holdings in Enterprise Products Partners were worth $406,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. PMV Capital Advisers LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the third quarter valued at about $31,000. Abich Financial Wealth Management LLC bought a new position in Enterprise Products Partners during the third quarter valued at about $32,000. Texas Capital Bancshares Inc TX bought a new position in Enterprise Products Partners during the third quarter valued at about $32,000. Finally, Financial Consulate Inc. bought a new position in Enterprise Products Partners during the third quarter valued at about $33,000. Institutional investors own 26.07% of the company’s stock.

Insider Activity

In other news, CEO Aj Teague purchased 2,665 shares of the stock in a transaction dated Friday, March 20th. The shares were purchased 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 in the company, valued at $2,912,978.80. This represents a 3.56% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 32.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Royal Bank Of Canada increased their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Jefferies Financial Group increased their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. Finally, Morgan Stanley restated an “underweight” rating and set a $42.00 price target on shares of Enterprise Products Partners in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.27.

Enterprise Products Partners Trading Down 0.0%

Shares of Enterprise Products Partners stock opened at $36.66 on Monday. Enterprise Products Partners L.P. has a 12-month low of $29.66 and a 12-month high of $39.74. The company has a market cap of $79.25 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.41 and a beta of 0.55. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average price is $37.16 and its 200-day moving average price is $33.84.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 82.71%.

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.