Enterprise Products Partners L.P. (NYSE:EPD) Stock Holdings Lifted by Energy Income Partners LLC

Energy Income Partners LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 15,618,956 shares of the oil and gas producer’s stock after acquiring an additional 142,689 shares during the period. Enterprise Products Partners accounts for about 9.3% of Energy Income Partners LLC’s holdings, making the stock its biggest holding. Energy Income Partners LLC’s holdings in Enterprise Products Partners were worth $455,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EPD. Accordant Advisory Group Inc purchased a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at approximately $28,000. Stephens Consulting LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $29,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $29,000. Finally, First Command Advisory Services Inc. lifted its position in shares of Enterprise Products Partners by 130.4% during the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EPD shares. Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Mizuho restated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Truist Financial raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average price target of $32.77.

Enterprise Products Partners Trading Up 1.3 %

Shares of NYSE:EPD traded up $0.38 during midday trading on Friday, reaching $29.94. 6,867,892 shares of the company’s stock were exchanged, compared to its average volume of 3,376,415. The firm’s 50 day simple moving average is $28.86 and its two-hundred day simple moving average is $28.33. 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 stock has a market cap of $65.02 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 1.40 and a beta of 1.04. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its 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. The company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. Enterprise Products Partners’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be given a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.01%. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s payout ratio is currently 80.78%.

About Enterprise Products Partners

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.