Spire Wealth Management Buys 26,498 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Spire Wealth Management increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 92.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 55,274 shares of the oil and gas producer’s stock after buying an additional 26,498 shares during the period. Spire Wealth Management’s holdings in Enterprise Products Partners were worth $1,887,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in Enterprise Products Partners by 14.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after purchasing an additional 308 shares in the last quarter. Colonial Trust Co SC increased its position in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 314 shares in the last quarter. Tidemark LLC increased its position in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares during the period. Townsend Asset Management Corp NC ADV increased its position in Enterprise Products Partners by 1.6% in the 4th quarter. Townsend Asset Management Corp NC ADV now owns 20,018 shares of the oil and gas producer’s stock valued at $628,000 after acquiring an additional 321 shares during the period. Finally, Axxcess Wealth Management LLC increased its position in Enterprise Products Partners by 2.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 14,346 shares of the oil and gas producer’s stock valued at $450,000 after acquiring an additional 325 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EPD. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Citigroup decreased their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $31.09 on Friday. The company has a market cap of $67.43 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.65. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average of $31.21 and a 200-day moving average of $32.09.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company 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 firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. On average, equities analysts forecast 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. Investors of record on Wednesday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.88%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

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.