Apollon Wealth Management LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Apollon Wealth Management LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 18.7% in the fourth quarter, HoldingsChannel reports. The firm owned 106,595 shares of the oil and gas producer’s stock after buying an additional 16,795 shares during the period. Apollon Wealth Management LLC’s holdings in Enterprise Products Partners were worth $2,809,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EPD. Chevy Chase Trust Holdings LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $205,000. Brown Advisory Inc. increased its position in shares of Enterprise Products Partners by 8.5% during the third quarter. Brown Advisory Inc. now owns 178,696 shares of the oil and gas producer’s stock worth $4,891,000 after purchasing an additional 13,956 shares in the last quarter. FORVIS Wealth Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 14.3% during the 3rd quarter. FORVIS Wealth Advisors LLC now owns 16,028 shares of the oil and gas producer’s stock valued at $439,000 after purchasing an additional 2,005 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Enterprise Products Partners by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after purchasing an additional 1,325,390 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in Enterprise Products Partners by 3.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,611,071 shares of the oil and gas producer’s stock worth $44,369,000 after buying an additional 46,853 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded down $0.02 during trading on Tuesday, hitting $28.35. 5,065,845 shares of the stock traded hands, compared to its average volume of 4,982,221. The company has a fifty day moving average price of $28.66 and a two-hundred day moving average price of $27.36. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The company has a market cap of $61.47 billion, a price-to-earnings ratio of 11.12 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The company’s revenue was up 18.6% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.27%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 80.78%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EPD. Stifel Nicolaus raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Truist Financial boosted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Barclays upped their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Finally, Mizuho reiterated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $32.75.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.