Mosaic Family Wealth Partners LLC Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Mosaic Family Wealth Partners LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,460 shares of the oil and gas producer’s stock after buying an additional 407 shares during the period. Mosaic Family Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $1,064,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Cadence Bank increased its stake in Enterprise Products Partners by 0.7% during the 1st 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 period. Hazlett Burt & Watson Inc. grew its holdings in Enterprise Products Partners by 8.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after acquiring an additional 371 shares in the last quarter. Kozak & Associates Inc. grew its holdings in Enterprise Products Partners by 9.8% during the 1st quarter. Kozak & Associates Inc. now owns 4,633 shares of the oil and gas producer’s stock worth $133,000 after acquiring an additional 412 shares in the last quarter. Phillips Wealth Planners LLC grew its holdings in Enterprise Products Partners by 3.7% during the 1st quarter. Phillips Wealth Planners LLC now owns 11,541 shares of the oil and gas producer’s stock worth $327,000 after acquiring an additional 413 shares in the last quarter. Finally, Eaton Financial Holdings Company LLC grew its holdings in Enterprise Products Partners by 1.2% during the 4th quarter. Eaton Financial Holdings Company LLC now owns 34,738 shares of the oil and gas producer’s stock worth $915,000 after acquiring an additional 420 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EPD shares. Truist Financial upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley lowered their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. JPMorgan Chase & Co. lowered their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $33.08.

Enterprise Products Partners Price Performance

Shares of EPD traded down $0.08 during trading hours on Friday, reaching $28.48. The company had a trading volume of 7,584,700 shares, compared to its average volume of 4,698,681. The firm has a 50 day simple moving average of $28.92 and a 200-day simple moving average of $28.39. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $61.85 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05.

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

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.37%. This is a boost 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 82.35%.

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.