EverSource Wealth Advisors LLC Increases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

EverSource Wealth Advisors LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 18.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,655 shares of the oil and gas producer’s stock after purchasing an additional 1,510 shares during the period. EverSource Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Accordant Advisory Group Inc acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $26,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners during the 1st quarter valued at $29,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the 1st quarter valued at $29,000. Burkett Financial Services LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $28,000. Finally, First Command Advisory Services Inc. grew its holdings in Enterprise Products Partners by 130.4% during the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 913 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EPD shares. JPMorgan Chase & Co. lowered their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Down 0.3 %

Shares of Enterprise Products Partners stock traded down $0.08 during trading hours on Friday, hitting $28.48. 7,584,700 shares of the company’s stock traded hands, compared to its average volume of 4,698,681. The stock has a 50 day simple moving average of $28.92 and a 200-day simple moving average of $28.39. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The company has a market cap of $61.85 billion, a PE ratio of 11.17, a PEG ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s payout ratio is presently 82.35%.

Enterprise Products Partners Company 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.