Evolve Private Wealth LLC Increases Stock Holdings in Enterprise Products Partners L.P. $EPD

Evolve Private Wealth LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 662.0% during the first quarter, HoldingsChannel reports. The firm owned 154,492 shares of the oil and gas producer’s stock after purchasing an additional 134,218 shares during the quarter. Evolve Private Wealth LLC’s holdings in Enterprise Products Partners were worth $5,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Auto Owners Insurance Co grew its position in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after buying an additional 31,060,000 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in Enterprise Products Partners during the 3rd quarter worth $292,194,000. Goldman Sachs Group Inc. raised its position in Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after buying an additional 1,940,583 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Enterprise Products Partners by 119.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after acquiring an additional 1,313,976 shares during the period. Finally, Barclays PLC lifted its stake in shares of Enterprise Products Partners by 57.5% in the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock worth $93,874,000 after acquiring an additional 1,069,304 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EPD. Barclays boosted their price target on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Citigroup reissued a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, Scotiabank reissued a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.94.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $36.60 on Monday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The stock has a market cap of $79.12 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The business has a fifty day moving average of $37.87 and a 200-day moving average of $35.83. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. During the same period in the previous year, the business earned $0.64 EPS. The firm’s revenue was down 6.7% on a year-over-year basis. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s payout ratio is 81.48%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.