Investment Advisory Services Inc. TX ADV Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Investment Advisory Services Inc. TX ADV bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 11,224 shares of the oil and gas producer’s stock, valued at approximately $383,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Security National Bank acquired a new position in shares of Enterprise Products Partners during the 1st quarter valued at $30,000. Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners in the first quarter valued at $31,000. Tidemark LLC raised its holdings in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners during the 4th quarter worth about $29,000. Finally, Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the 4th quarter valued at about $30,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $30.80 on Thursday. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company’s 50 day moving average price is $31.21 and its two-hundred day moving average price is $32.10. The stock has a market cap of $66.80 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.29 and a beta of 0.65. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 80.15%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EPD. Morgan Stanley increased their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Scotiabank lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Thursday, June 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.67.

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.