Independent Financial Group LLC Invests $5.71 Million in Enterprise Products Partners L.P. $EPD

Independent Financial Group LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 150,767 shares of the oil and gas producer’s stock, valued at approximately $5,705,000.

A number of other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted 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 valued at $1,023,000 after buying an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after buying an additional 3,742 shares during the last quarter. Guggenheim Capital LLC raised its position in Enterprise Products Partners by 6.1% during the second 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 in the last quarter. Finally, Glenview Trust co lifted its stake in Enterprise Products Partners by 315.8% in the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after acquiring an additional 25,555 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on EPD shares. Truist Financial boosted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Wall Street Zen lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings cut shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada increased their target price 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. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.13.

Enterprise Products Partners Price Performance

NYSE EPD opened at $38.02 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $37.63 and a 200 day simple moving average of $36.49. The company has a market cap of $82.20 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.32 and a beta of 0.49. 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 posted its earnings results 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). The firm had revenue of $14.39 billion during 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%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.56 dividend. The ex-dividend date is Friday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

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.