Providence Capital Advisors LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,488 shares of the oil and gas producer’s stock after acquiring an additional 1,703 shares during the quarter. Providence Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $1,295,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Edgemoor Investment Advisors Inc. lifted its holdings in Enterprise Products Partners by 6.7% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 323,572 shares of the oil and gas producer’s stock worth $9,416,000 after buying an additional 20,255 shares during the period. National Asset Management Inc. lifted its holdings in Enterprise Products Partners by 6.8% during the 1st quarter. National Asset Management Inc. now owns 72,878 shares of the oil and gas producer’s stock worth $2,122,000 after buying an additional 4,648 shares during the period. Boyer & Corporon Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth about $224,000. Todd Asset Management LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth about $204,000. Finally, Strategy Asset Managers LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth about $97,000. 36.74% of the stock is currently owned by institutional investors.
Enterprise Products Partners stock traded up $0.14 during midday trading on Tuesday, reaching $28.73. The stock had a trading volume of 471,299 shares, compared to its average volume of 4,181,004. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.05. The firm has a market capitalization of $62.50 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 3.53 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.58.
Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. Enterprise Products Partners had a return on equity of 19.50% and a net margin of 12.67%. The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same period in the previous year, the company posted $0.41 EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Tuesday, April 30th were given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 6.09%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s payout ratio is presently 90.21%.
Several research firms have recently weighed in on EPD. Goldman Sachs Group raised Enterprise Products Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $32.00 in a research report on Tuesday, April 2nd. Zacks Investment Research raised Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Thursday, April 11th. Evercore ISI began coverage on Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. Finally, Bank of America set a $32.00 price objective on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.27.
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Enterprise Products Partners Profile
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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