ORG Partners LLC Purchases New Position in Enterprise Products Partners L.P. (NYSE:EPD)

ORG Partners LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,230 shares of the oil and gas producer’s stock, valued at approximately $1,710,000. Enterprise Products Partners comprises about 3.3% of ORG Partners LLC’s investment portfolio, making the stock its 6th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Accordant Advisory Group Inc purchased a new position in shares of Enterprise Products Partners during the first quarter worth approximately $26,000. Burkett Financial Services LLC purchased a new position in Enterprise Products Partners during the fourth quarter valued at approximately $28,000. Stephens Consulting LLC purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $29,000. Finally, First Command Advisory Services Inc. increased its holdings in Enterprise Products Partners by 130.4% during 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 buying an additional 913 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD traded up $0.31 during mid-day trading on Friday, hitting $29.50. 2,389,537 shares of the company were exchanged, compared to its average volume of 4,375,096. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $29.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The company has a 50 day moving average of $28.60 and a 200-day moving average of $28.06. The stock has a market cap of $64.06 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04.

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, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. Analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be given a dividend of $0.525 per share. The ex-dividend date is Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.12%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Analyst Upgrades and Downgrades

EPD has been the subject of several recent analyst reports. Barclays raised their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. 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. Finally, Morgan Stanley lowered their price objective 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. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $32.77.

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.