Strategic Financial Concepts LLC Purchases New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Strategic Financial Concepts LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 17,608 shares of the oil and gas producer’s stock, valued at approximately $514,000.

Other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares during the period. Blackstone Inc. lifted its position in Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after buying an additional 2,472,847 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Enterprise Products Partners by 14.2% during the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after purchasing an additional 2,155,640 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Enterprise Products Partners by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after buying an additional 1,325,390 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Enterprise Products Partners by 2,436.1% in the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after buying an additional 1,125,117 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EPD. Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. 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. Truist Financial upped their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Barclays raised their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Finally, Scotiabank boosted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded down $0.52 during mid-day trading on Tuesday, reaching $28.07. 8,876,852 shares of the company were exchanged, compared to its average volume of 5,008,442. The company’s 50-day simple moving average is $28.62 and its 200-day simple moving average is $27.34. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $60.86 billion, a P/E ratio of 11.14 and a beta of 1.02. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same period last year, the firm posted $0.65 earnings per share. Enterprise Products Partners’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.34%. Enterprise Products Partners’s dividend payout ratio is 81.75%.

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.