Freestone Capital Holdings LLC Makes New $252,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Freestone Capital Holdings LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,642 shares of the oil and gas producer’s stock, valued at approximately $252,000.

A number of other institutional investors have also modified their holdings of the company. Accordant Advisory Group Inc purchased a new stake in Enterprise Products Partners during the first quarter worth approximately $26,000. Burkett Financial Services LLC bought a new position in Enterprise Products Partners during the 4th quarter valued at $28,000. Stephens Consulting LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth $29,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the 1st quarter worth about $29,000. Finally, First Command Advisory Services Inc. raised its stake in shares of Enterprise Products Partners by 130.4% in the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock traded up $0.38 during trading on Friday, reaching $29.94. 6,867,892 shares of the company’s stock were exchanged, compared to its average volume of 3,376,415. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The firm has a market cap of $65.02 billion, a PE ratio of 11.74, a P/E/G ratio of 1.38 and a beta of 1.04. The company’s fifty day moving average price is $28.86 and its 200-day moving average price is $28.31. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99.

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 for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date is Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.78%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EPD. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley reduced their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Wells Fargo & Company boosted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Mizuho reissued a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $32.77.

About Enterprise Products Partners

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.