Empowered Funds LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 352,437 shares of the oil and gas producer’s stock after buying an additional 34,669 shares during the period. Empowered Funds LLC’s holdings in Enterprise Products Partners were worth $13,336,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of EPD. Everest Financial Group LLC grew its stake in Enterprise Products Partners by 3.6% during the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 271 shares in the last quarter. Walker Asset Management LLC boosted its stake in shares of Enterprise Products Partners by 1.5% in the 1st quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock valued at $756,000 after buying an additional 296 shares during the period. Hunter Associates Investment Management LLC grew its position in shares of Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after buying an additional 300 shares in the last quarter. Mission Wealth Management LP increased its stake in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 328 shares during the period. Finally, Montag A & Associates Inc. raised its holdings 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 acquiring an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.
Enterprise Products Partners Stock Up 0.2%
EPD stock opened at $38.69 on Thursday. The stock has a market cap of $83.65 billion, a P/E ratio of 14.33, a PEG ratio of 1.40 and a beta of 0.49. 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 twelve month low of $30.01 and a twelve month high of $40.17. The company’s 50 day moving average is $37.61 and its two-hundred day moving average is $36.92.
Enterprise Products Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.56 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s payout ratio is currently 81.48%.
Wall Street Analyst Weigh In
Several research firms have commented on EPD. JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. UBS Group reiterated a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Stifel Nicolaus increased their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Weiss Ratings downgraded Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.93.
Read Our Latest Research Report on Enterprise Products Partners
Enterprise Products Partners 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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