Diversify Wealth Management LLC Purchases New Position in Enterprise Products Partners L.P. $EPD

Diversify Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 20,089 shares of the oil and gas producer’s stock, valued at approximately $779,000.

Other large investors have also added to or reduced their stakes in the company. PMV Capital Advisers LLC purchased a new stake in Enterprise Products Partners during the fourth quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth $31,000. Daytona Street Capital LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter worth $42,000. Groesbeck Investment Management Corp NJ bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth about $45,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $48,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $38.02 on Friday. The company has a market capitalization of $82.20 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.32 and a beta of 0.49. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The firm’s 50-day moving average is $37.63 and its 200 day moving average is $36.49. 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 posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 3.01 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.56 dividend. The ex-dividend date is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Analysts Set New Price Targets

A number of research analysts recently commented on EPD shares. Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Truist Financial upped their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Stifel Nicolaus lifted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.13.

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.