Signal Advisors Wealth LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 53.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,859 shares of the oil and gas producer’s stock after acquiring an additional 16,730 shares during the period. Signal Advisors Wealth LLC’s holdings in Enterprise Products Partners were worth $1,811,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Miller Howard Investments Inc. NY raised its stake in Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after purchasing an additional 31,733 shares in the last quarter. Royal Palms Capital LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $1,830,000. Oxbow Advisors LLC increased its holdings in shares of Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after purchasing an additional 39,052 shares during the period. Texas Yale Capital Corp. raised its position in shares of Enterprise Products Partners by 4.9% in the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after buying an additional 88,475 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Enterprise Products Partners by 70.6% in the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock valued at $46,765,000 after buying an additional 619,014 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.
Enterprise Products Partners Price Performance
Shares of EPD stock opened at $37.17 on Wednesday. The business has a fifty day simple moving average of $37.84 and a 200 day simple moving average of $35.90. The company has a market cap of $80.35 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.30 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17.
Enterprise Products Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on EPD. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th. Scotiabank reiterated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Morgan Stanley reissued an “underweight” rating and set a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Truist Financial boosted their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Finally, Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Nine 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.94.
Enterprise Products Partners Company Profile
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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