Miller Wealth Advisors LLC Makes New $250,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Miller Wealth Advisors LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,492 shares of the oil and gas producer’s stock, valued at approximately $250,000. Enterprise Products Partners accounts for about 0.5% of Miller Wealth Advisors LLC’s portfolio, making the stock its 8th largest holding.

A number of other large investors have also modified their holdings of the company. Alps Advisors Inc. increased its stake in shares of Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares in the last quarter. Blackstone Inc. increased its stake in shares of Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after purchasing an additional 2,472,847 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Enterprise Products Partners by 14.2% during the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after purchasing an additional 2,155,640 shares in the last quarter. Invesco Ltd. increased its stake in shares of Enterprise Products Partners by 10.5% during the third quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after purchasing an additional 969,199 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Enterprise Products Partners by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after purchasing an additional 1,325,390 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 1.1 %

Shares of Enterprise Products Partners stock traded up $0.30 during mid-day trading on Thursday, hitting $28.04. The stock had a trading volume of 1,945,138 shares, compared to its average volume of 4,985,088. The firm has a 50-day moving average of $28.63 and a two-hundred day moving average of $27.35. Enterprise Products Partners L.P. has a 12-month low of $25.19 and a 12-month high of $29.99. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market cap of $60.80 billion, a P/E ratio of 10.92 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business 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 $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.35%. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Analyst Ratings Changes

A number of analysts have recently commented on EPD shares. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Barclays upped their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Scotiabank upped their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Company upped their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $32.75.

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.