Eagle Bay Advisors LLC Has $159,000 Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Eagle Bay Advisors LLC increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 36.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,451 shares of the oil and gas producer’s stock after purchasing an additional 1,451 shares during the period. Eagle Bay Advisors LLC’s holdings in Enterprise Products Partners were worth $159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Accordant Advisory Group Inc acquired a new stake in Enterprise Products Partners during the 1st quarter worth about $26,000. Burkett Financial Services LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $28,000. Stephens Consulting LLC acquired a new position in Enterprise Products Partners in the first quarter worth approximately $29,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the first quarter valued at approximately $29,000. Finally, First Command Advisory Services Inc. lifted its stake in Enterprise Products Partners by 130.4% in the first quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock valued at $47,000 after acquiring an additional 913 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on EPD shares. Wells Fargo & Company boosted their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Mizuho reiterated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average price target of $32.77.

Enterprise Products Partners Stock Up 0.9 %

Shares of Enterprise Products Partners stock traded up $0.27 during trading on Thursday, reaching $29.98. The stock had a trading volume of 2,140,496 shares, compared to its average volume of 4,377,807. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $65.10 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.38 and a beta of 1.04. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.01. The stock has a fifty day moving average price of $28.71 and a two-hundred day moving average price of $28.17.

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, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a $0.525 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.00%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is 80.78%.

Enterprise Products Partners 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.