Diversify Wealth Management LLC Invests $779,000 in Enterprise Products Partners L.P. $EPD

Diversify Wealth Management LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, Holdings Channel.com reports. The fund bought 20,089 shares of the oil and gas producer’s stock, valued at approximately $779,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Walker Asset Management LLC lifted its holdings in Enterprise Products Partners by 1.5% during the 1st quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock valued at $756,000 after buying an additional 296 shares in the last quarter. Hunter Associates Investment Management LLC boosted its position in Enterprise Products Partners by 3.8% in the 1st quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after buying an additional 300 shares during the period. ORG Wealth Partners LLC grew its stake in Enterprise Products Partners by 0.5% in the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after acquiring an additional 317 shares in the last quarter. Mission Wealth Management LP grew its stake in Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after acquiring an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. increased its position in shares of Enterprise Products Partners by 5.9% during the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after acquiring an additional 330 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EPD has been the subject of several research analyst reports. Jefferies Financial Group lifted their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. Citigroup restated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada upped their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, Wall Street Zen downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has an average rating of “Hold” and an average target price of $40.13.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $38.02 on Friday. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The stock’s 50-day moving average is $37.63 and its 200 day moving average is $36.49. The company has a market cap of $82.20 billion, a P/E ratio of 14.08, a PEG ratio of 1.32 and a beta of 0.49. 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 announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 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 the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 81.48%.

About Enterprise Products Partners

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.