Enterprise Products Partners L.P. (NYSE:EPD) Holdings Boosted by Energy Income Partners LLC

Energy Income Partners LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,618,956 shares of the oil and gas producer’s stock after buying an additional 142,689 shares during the quarter. Enterprise Products Partners accounts for about 9.3% of Energy Income Partners LLC’s investment portfolio, making the stock its largest position. Energy Income Partners LLC owned approximately 0.72% of Enterprise Products Partners worth $455,761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cadence Bank boosted its holdings in shares of Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after buying an additional 365 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Enterprise Products Partners by 8.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 371 shares during the last quarter. Ellsworth Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 1.9% in the fourth quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock worth $558,000 after buying an additional 393 shares during the last quarter. Phillips Wealth Planners LLC boosted its holdings in shares of Enterprise Products Partners by 3.7% in the first quarter. Phillips Wealth Planners LLC now owns 11,541 shares of the oil and gas producer’s stock worth $327,000 after buying an additional 413 shares during the last quarter. Finally, Eaton Financial Holdings Company LLC boosted its holdings in shares of Enterprise Products Partners by 1.2% in the fourth quarter. Eaton Financial Holdings Company LLC now owns 34,738 shares of the oil and gas producer’s stock worth $915,000 after buying an additional 420 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Scotiabank lifted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Wells Fargo & Company lifted their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded up $0.38 on Friday, hitting $29.94. 6,867,892 shares of the company traded hands, compared to its average volume of 3,376,415. The stock has a market capitalization of $65.02 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The business has a 50-day simple moving average of $28.86 and a 200 day simple moving average of $28.33.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The company had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. Enterprise Products Partners’s quarterly revenue was up 18.6% on a year-over-year basis. Research analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.01%. The ex-dividend date of this dividend is Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 80.78%.

About Enterprise Products Partners

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.