GPS Wealth Strategies Group LLC Has $204,000 Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

GPS Wealth Strategies Group LLC lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 6.4% in the second quarter, HoldingsChannel reports. The fund owned 7,035 shares of the oil and gas producer’s stock after selling 483 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Enterprise Products Partners were worth $204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accordant Advisory Group Inc bought a new stake in Enterprise Products Partners during the 1st quarter valued at $26,000. Burkett Financial Services LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at about $28,000. Stephens Consulting LLC bought a new stake in shares of Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth about $29,000. Finally, First Command Advisory Services Inc. lifted its position in Enterprise Products Partners by 130.4% in 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 acquiring an additional 913 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on EPD. Morgan Stanley lowered their price objective on 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. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, May 16th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded up $0.24 during mid-day trading on Thursday, reaching $29.13. The company’s stock had a trading volume of 875,407 shares, compared to its average volume of 4,632,815. The company has a market capitalization of $63.26 billion, a P/E ratio of 11.38, a PEG ratio of 1.33 and a beta of 1.04. The firm’s fifty day moving average price is $28.98 and its two-hundred day moving average price is $28.48. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results 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 net margin of 10.48% and a return on equity of 20.18%. The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the previous year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.21%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

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.