Maia Wealth LLC Invests $226,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Maia Wealth LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,635 shares of the oil and gas producer’s stock, valued at approximately $226,000.

Several other institutional investors have also modified their holdings of the stock. Cadence Bank grew its position in Enterprise Products Partners by 0.7% in the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares during the last quarter. Stokes Family Office LLC lifted its holdings in Enterprise Products Partners by 2.5% during the 2nd quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock valued at $468,000 after buying an additional 399 shares in the last quarter. Mosaic Family Wealth Partners LLC boosted its holdings in shares of Enterprise Products Partners by 1.1% in the first quarter. Mosaic Family Wealth Partners LLC now owns 36,460 shares of the oil and gas producer’s stock valued at $1,064,000 after purchasing an additional 407 shares during the period. Kozak & Associates Inc. lifted its holdings in shares of Enterprise Products Partners by 9.8% in the 1st quarter. Kozak & Associates Inc. now owns 4,633 shares of the oil and gas producer’s stock worth $133,000 after buying an additional 412 shares during the period. Finally, Phillips Wealth Planners LLC raised its holdings in shares of Enterprise Products Partners by 3.7% in the first quarter. Phillips Wealth Planners LLC now owns 11,541 shares of the oil and gas producer’s stock valued at $327,000 after acquiring an additional 413 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD stock traded up $0.18 during mid-day trading on Wednesday, hitting $28.45. 626,587 shares of the stock were exchanged, compared to its average volume of 4,610,650. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The company has a market cap of $61.78 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The firm has a fifty day moving average of $28.97 and a 200 day moving average of $28.48.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The business’s revenue was up 26.6% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.38%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s payout ratio is presently 82.35%.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent research reports. Morgan Stanley reduced 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 report on Monday, June 10th. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.08.

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.