Apollon Wealth Management LLC Acquires 13,755 Shares of Enterprise Products Partners L.P. $EPD

Apollon Wealth Management LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 12.6% during the first quarter, Holdings Channel reports. The firm owned 122,735 shares of the oil and gas producer’s stock after acquiring an additional 13,755 shares during the quarter. Apollon Wealth Management LLC’s holdings in Enterprise Products Partners were worth $4,644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after acquiring an additional 3,742 shares during the period. Guggenheim Capital LLC lifted its position in shares of Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after acquiring an additional 1,578 shares during the period. Finally, Glenview Trust co boosted its stake in Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after acquiring an additional 25,555 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.2%

Enterprise Products Partners stock opened at $36.66 on Tuesday. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The firm has a market capitalization of $79.25 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The firm’s fifty day moving average price is $37.79 and its two-hundred day moving average price is $36.01. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (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 business had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Citigroup restated a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Royal Bank Of Canada increased their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Morgan Stanley reaffirmed an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and a consensus price target of $39.94.

Enterprise Products Partners Company Profile

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.