Enterprise Products Partners L.P. $EPD Shares Purchased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,066,758 shares of the oil and gas producer’s stock after purchasing an additional 20,007 shares during the period. Enterprise Products Partners accounts for approximately 1.5% of Chicago Partners Investment Group LLC’s portfolio, making the stock its 7th biggest position. Chicago Partners Investment Group LLC’s holdings in Enterprise Products Partners were worth $77,999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PMV Capital Advisers LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $31,000. Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth $42,000. Groesbeck Investment Management Corp NJ purchased a new position in shares of Enterprise Products Partners during the fourth quarter worth $45,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter worth $48,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.0%

EPD opened at $37.27 on Monday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a fifty day moving average of $37.65 and a two-hundred day moving average of $36.33. The stock has a market capitalization of $80.56 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.32 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last issued 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 analyst estimates of $13.62 billion. During the same quarter last year, the company posted $0.64 EPS. The company’s revenue was down 6.7% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners L.P. will post 3.01 earnings per share 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. Investors of record on Friday, July 31st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 82.96%.

Analysts Set New Price Targets

Several research firms have commented on EPD. Royal Bank Of Canada upped their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. UBS Group reissued a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, Truist Financial upped their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.