Ascentis Independent Advisors Has $2.52 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Ascentis Independent Advisors boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 59.3% during the 1st quarter, HoldingsChannel reports. The fund owned 66,519 shares of the oil and gas producer’s stock after buying an additional 24,759 shares during the quarter. Ascentis Independent Advisors’ holdings in Enterprise Products Partners were worth $2,517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of EPD. Stephens Inc. AR boosted its position in shares of Enterprise Products Partners by 4.5% during the 1st quarter. Stephens Inc. AR now owns 632,544 shares of the oil and gas producer’s stock valued at $23,939,000 after acquiring an additional 27,271 shares in the last quarter. Hardy Reed LLC lifted its stake in Enterprise Products Partners by 9.5% during the first quarter. Hardy Reed LLC now owns 26,456 shares of the oil and gas producer’s stock worth $1,001,000 after purchasing an additional 2,300 shares during the period. Steigerwald Gordon & Koch Inc. lifted its stake in Enterprise Products Partners by 258.3% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 1,734 shares of the oil and gas producer’s stock worth $66,000 after purchasing an additional 1,250 shares during the period. Private Wealth Partners LLC boosted its holdings in Enterprise Products Partners by 1.5% during the first quarter. Private Wealth Partners LLC now owns 119,100 shares of the oil and gas producer’s stock valued at $4,507,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Hunter Associates Investment Management LLC boosted its holdings in Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Jefferies Financial Group boosted their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. Scotiabank reiterated a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Morgan Stanley reiterated an “underweight” rating and set a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Finally, Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.94.

Enterprise Products Partners Stock Up 0.1%

Shares of EPD opened at $36.77 on Monday. The company has a market capitalization of $79.49 billion, a P/E ratio of 13.62, a PEG ratio of 1.30 and a beta of 0.49. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The business’s 50 day simple moving average is $37.75 and its 200-day simple moving average is $36.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results 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 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 period in the prior year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 3.01 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.55 dividend. 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 dividend payout ratio (DPR) is 81.48%.

Enterprise Products Partners 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.