Greenwood Gearhart LLC Buys Shares of 22,514 Enterprise Products Partners L.P. $EPD

Greenwood Gearhart LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,514 shares of the oil and gas producer’s stock, valued at approximately $852,000.

Other institutional investors also recently made changes to their positions in the company. Walker Asset Management LLC increased its position 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 worth $756,000 after purchasing an additional 296 shares in the last quarter. Hunter Associates Investment Management LLC raised its stake 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 purchasing an additional 300 shares during the last quarter. ORG Wealth Partners LLC lifted its holdings 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 valued at $2,125,000 after purchasing an additional 317 shares in the last quarter. Mission Wealth Management LP boosted its stake in shares of Enterprise Products Partners by 1.0% during 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 purchasing an additional 328 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its stake in shares of Enterprise Products Partners by 5.9% during the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 330 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.18 on Monday. The company has a market cap of $82.54 billion, a P/E ratio of 14.14, a P/E/G ratio of 1.37 and a beta of 0.49. The firm’s 50 day moving average is $37.65 and its two-hundred day moving average is $36.54. 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 quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Analysts expect that Enterprise Products Partners L.P. will post 2.97 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.9%. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s payout ratio is currently 81.48%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EPD. UBS Group reissued a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Stifel Nicolaus lifted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Jefferies Financial Group increased their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and a consensus 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.