HM Payson & Co. Acquires 2,145 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

HM Payson & Co. raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,622 shares of the oil and gas producer’s stock after buying an additional 2,145 shares during the period. HM Payson & Co.’s holdings in Enterprise Products Partners were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in EPD. Kayne Anderson Capital Advisors LP lifted its position in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. Truist Financial Corp lifted its position in shares of Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after purchasing an additional 1,506,055 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at about $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after purchasing an additional 851,188 shares in the last quarter. Finally, KDK Private Wealth Management LLC purchased a new stake in Enterprise Products Partners during the fourth quarter worth about $22,333,000. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EPD shares. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Scotiabank raised their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, June 5th. Barclays decreased their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley raised their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Finally, Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.56.

Enterprise Products Partners Price Performance

EPD opened at $31.49 on Friday. The company has a market capitalization of $68.29 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.31 and a beta of 0.64. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $31.26 and a 200-day moving average price of $32.07. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. Enterprise Products Partners’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a dividend of $0.535 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.80%. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

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.