Pasadena Private Wealth LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Pasadena Private Wealth LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,515 shares of the oil and gas producer’s stock after purchasing an additional 2,968 shares during the period. Pasadena Private Wealth LLC’s holdings in Enterprise Products Partners were worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of EPD. Overbrook Management Corp purchased a new position in Enterprise Products Partners during the first quarter valued at $1,155,000. Wealth Enhancement Advisory Services LLC increased its holdings in Enterprise Products Partners by 3.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 910,198 shares of the oil and gas producer’s stock valued at $26,560,000 after acquiring an additional 28,767 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in Enterprise Products Partners by 511.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 68,076 shares of the oil and gas producer’s stock valued at $1,986,000 after acquiring an additional 56,938 shares during the last quarter. Sovereign Financial Group Inc. increased its holdings in Enterprise Products Partners by 15.1% in the 1st quarter. Sovereign Financial Group Inc. now owns 10,986 shares of the oil and gas producer’s stock valued at $321,000 after acquiring an additional 1,442 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in Enterprise Products Partners by 31.5% in the 1st quarter. Sunbelt Securities Inc. now owns 201,683 shares of the oil and gas producer’s stock valued at $5,885,000 after acquiring an additional 48,301 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.3 %

Shares of NYSE:EPD traded down $0.10 during trading hours on Friday, hitting $28.80. The company’s stock had a trading volume of 223,784 shares, compared to its average volume of 4,475,873. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $29.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market capitalization of $62.54 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 1.35 and a beta of 1.03. The firm’s fifty day moving average price is $28.50 and its 200 day moving average price is $27.85.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.73 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were paid a dividend of $0.515 per share. The ex-dividend date was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.15%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EPD shares. Barclays lifted their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. dropped their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley dropped their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $32.77.

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.