Chicago Partners Investment Group LLC Raises Holdings in Enterprise Products Partners L.P. $EPD

Chicago Partners Investment Group LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,066,758 shares of the oil and gas producer’s stock after purchasing an additional 20,007 shares during the period. Enterprise Products Partners accounts for approximately 1.5% of Chicago Partners Investment Group LLC’s investment portfolio, making the stock its 7th largest holding. Chicago Partners Investment Group LLC owned about 0.10% of Enterprise Products Partners worth $77,999,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Tradewinds LLC. purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at about $203,000. Procyon Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 7.7% in the 1st quarter. Procyon Advisors LLC now owns 88,650 shares of the oil and gas producer’s stock valued at $3,355,000 after buying an additional 6,337 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $779,000. Valmark Advisers Inc. raised its stake in shares of Enterprise Products Partners by 11.7% during the 1st quarter. Valmark Advisers Inc. now owns 10,992 shares of the oil and gas producer’s stock worth $416,000 after acquiring an additional 1,155 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in shares of Enterprise Products Partners by 7.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 51,896 shares of the oil and gas producer’s stock worth $1,964,000 after acquiring an additional 3,496 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Truist Financial increased their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Finally, UBS Group reissued a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Hold” and an average target price of $40.13.

Enterprise Products Partners Stock Down 0.0%

EPD stock opened at $37.27 on Monday. The firm has a 50 day moving average of $37.65 and a 200 day moving average of $36.33. The stock has a market capitalization of $80.56 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. 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 L.P. has a 52 week low of $30.01 and a 52 week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.0%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.96%.

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.