Icon Wealth Advisors LLC Grows Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Icon Wealth Advisors LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 23.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 544,921 shares of the oil and gas producer’s stock after buying an additional 103,810 shares during the period. Enterprise Products Partners makes up 1.5% of Icon Wealth Advisors LLC’s portfolio, making the stock its 14th largest holding. Icon Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $15,901,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blackstone Inc. grew its holdings in Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Energy Income Partners LLC boosted its holdings in Enterprise Products Partners by 0.9% during the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after acquiring an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP grew its position in Enterprise Products Partners by 2.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after acquiring an additional 284,772 shares during the last quarter. Berkley W R Corp grew its position in Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Enterprise Products Partners by 5.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,956,244 shares of the oil and gas producer’s stock worth $144,623,000 after buying an additional 269,800 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EPD shares. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Mizuho restated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Truist Financial upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company raised their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $32.77.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded down $0.14 during trading hours on Tuesday, reaching $29.56. The stock had a trading volume of 10,339,398 shares, compared to its average volume of 4,452,338. The stock’s 50 day moving average is $28.90 and its 200 day moving average is $28.37. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The firm has a market capitalization of $64.18 billion, a PE ratio of 11.59, a PEG ratio of 1.40 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. Enterprise Products Partners’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities 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 announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.11%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

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