Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 23.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 544,921 shares of the oil and gas producer’s stock after purchasing an additional 103,810 shares during the quarter. Enterprise Products Partners comprises approximately 1.5% of Icon Wealth Advisors LLC’s portfolio, making the stock its 14th largest holding. Icon Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $15,901,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in EPD. Accordant Advisory Group Inc purchased a new stake in Enterprise Products Partners during the 1st quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth approximately $28,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners in the 1st quarter valued at $29,000. Finally, First Command Advisory Services Inc. increased its stake in 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 buying an additional 913 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. dropped their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Wells Fargo & Company raised their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. 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 research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock 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 $0.14 during midday trading on Tuesday, hitting $29.56. 10,339,398 shares of the stock were exchanged, compared to its average volume of 4,452,338. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average price of $28.90 and a 200-day moving average price of $28.37. The stock has a market cap of $64.18 billion, a P/E ratio of 11.59, a PEG ratio of 1.40 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating 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 firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same period last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current 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 given a dividend of $0.525 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.11%. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s payout ratio is currently 80.78%.

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.