Miller Howard Investments Inc. NY grew its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,160,206 shares of the oil and gas producer’s stock after purchasing an additional 48,087 shares during the quarter. Enterprise Products Partners comprises approximately 3.3% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 2nd biggest holding. Miller Howard Investments Inc. NY owned about 0.15% of Enterprise Products Partners worth $119,582,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Arete Wealth Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 1.5% during the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after purchasing an additional 317 shares during the last quarter. ORG Wealth Partners LLC grew its stake in Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after buying an additional 317 shares during the last quarter. Walker Asset Management LLC increased its position in Enterprise Products Partners by 1.7% during the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock valued at $631,000 after buying an additional 326 shares in the last quarter. Mission Wealth Management LP increased its position in Enterprise Products Partners by 1.0% during the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after buying an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. raised its stake in Enterprise Products Partners by 5.9% in the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock valued at $189,000 after buying an additional 330 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on EPD. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. UBS Group reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Royal Bank Of Canada upped their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.94.
Enterprise Products Partners Price Performance
Shares of NYSE EPD opened at $37.17 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The business’s 50 day moving average price is $37.84 and its 200 day moving average price is $35.90. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm 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.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings results 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 business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.
Enterprise Products Partners Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.
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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