Cetera Investment Advisers Raises Stake in Enterprise Products Partners L.P. $EPD

Cetera Investment Advisers grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,094,669 shares of the oil and gas producer’s stock after acquiring an additional 17,287 shares during the quarter. Cetera Investment Advisers owned about 0.05% of Enterprise Products Partners worth $41,422,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter valued at about $31,000. Daytona Street Capital LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $42,000. Groesbeck Investment Management Corp NJ purchased a new position in Enterprise Products Partners during the fourth quarter worth about $45,000. Kestra Investment Management LLC purchased a new position in Enterprise Products Partners during the second quarter worth about $48,000. Finally, State of Wyoming acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.2%

Shares of EPD stock opened at $38.71 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm has a market cap of $83.68 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49. The company has a 50-day moving average of $37.67 and a two-hundred day moving average of $36.74. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced 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). The company had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.93 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.56 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.8%. Enterprise Products Partners’s payout ratio is 81.48%.

Wall Street Analysts Forecast Growth

EPD has been the subject of several analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Jefferies Financial Group upped their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Morgan Stanley set a $40.00 target price on Enterprise Products Partners and gave the stock an “underweight” rating in a research note on Tuesday. Finally, TD Cowen restated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $39.93.

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.