Wealth Enhancement Advisory Services LLC Has $26.56 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% in the first quarter, Holdings Channel reports. The fund owned 910,198 shares of the oil and gas producer’s stock after acquiring an additional 28,767 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Enterprise Products Partners were worth $26,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Burkett Financial Services LLC bought a new stake in Enterprise Products Partners during the 4th quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Enterprise Products Partners during the third quarter worth approximately $48,000. Community Bank N.A. grew its stake in shares of Enterprise Products Partners by 68.3% in the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 750 shares during the last quarter. American National Bank acquired a new position in Enterprise Products Partners during the 4th quarter valued at $49,000. Finally, Livelsberger Financial Advisory bought a new stake in Enterprise Products Partners in the 4th quarter valued at $49,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EPD has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Barclays boosted their price objective 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. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Truist Financial raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Mizuho reiterated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded down $0.10 during trading on Thursday, reaching $28.92. The company had a trading volume of 2,528,004 shares, compared to its average volume of 4,510,431. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $29.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The business’s 50 day moving average price is $28.50 and its 200-day moving average price is $27.85. The stock has a market cap of $62.80 billion, a PE ratio of 11.32, a PEG ratio of 1.35 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.73 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.12%. Enterprise Products Partners’s payout ratio is presently 80.78%.

Enterprise Products Partners 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.