Welch & Forbes LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) during the 1st quarter, Holdings Channel.com reports. The fund purchased 29,295 shares of the oil and gas producer’s stock, valued at approximately $1,109,000.
Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares during the period. Schnieders Capital Management LLC. lifted its stake in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after buying an additional 3,742 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Enterprise Products Partners by 6.1% in the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after buying an additional 1,578 shares during the last quarter. Finally, Glenview Trust co grew its position in Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after buying an additional 25,555 shares during the period. Institutional investors own 26.07% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on EPD shares. Truist Financial increased their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday. Scotiabank reissued a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.13.
Enterprise Products Partners Stock Down 0.0%
NYSE EPD opened at $37.27 on Monday. The stock’s 50 day moving average is $37.65 and its 200 day moving average is $36.33. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The stock has a market cap of $80.56 billion, a PE ratio of 13.80, a P/E/G ratio of 1.32 and a beta of 0.49.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 3.01 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is 82.96%.
About Enterprise Products Partners
Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.
Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.
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