Fund Advisors of America Inc FL Makes New Investment in Enterprise Products Partners L.P. $EPD

Fund Advisors of America Inc FL acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 53,539 shares of the oil and gas producer’s stock, valued at approximately $1,716,000. Enterprise Products Partners makes up about 1.6% of Fund Advisors of America Inc FL’s portfolio, making the stock its 17th largest position.

A number of other hedge funds have also made changes to their positions in the stock. Arete Wealth Advisors LLC lifted its position in Enterprise Products Partners by 1.5% in the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after purchasing an additional 317 shares during the period. ORG Wealth Partners LLC increased its position in shares of Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after purchasing an additional 317 shares during the period. Walker Asset Management LLC raised its stake in shares of Enterprise Products Partners by 1.7% in the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock worth $631,000 after buying an additional 326 shares in the last quarter. Mission Wealth Management LP raised its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in shares of Enterprise Products Partners by 5.9% in the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock valued at $189,000 after buying an additional 330 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EPD shares. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Hold” and an average price target of $39.94.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $36.60 on Friday. The firm’s 50-day moving average is $37.87 and its 200-day moving average is $35.81. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a market cap of $79.12 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same period in the prior year, the firm posted $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

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

About Enterprise Products Partners

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.