Cetera Investment Advisers Has $23.53 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Cetera Investment Advisers boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 402.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 806,279 shares of the oil and gas producer’s stock after buying an additional 645,714 shares during the period. Cetera Investment Advisers’ holdings in Enterprise Products Partners were worth $23,527,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Accordant Advisory Group Inc bought a new position in shares of Enterprise Products Partners in the first quarter valued at $26,000. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at $28,000. Stephens Consulting LLC bought a new position in shares of Enterprise Products Partners in the first quarter valued at $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the first quarter valued at $29,000. Finally, First Command Advisory Services Inc. grew its stake in shares of Enterprise Products Partners by 130.4% in the first 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 in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $28.48 on Friday. The firm has a 50 day moving average of $28.92 and a 200-day moving average of $28.39. The stock has a market capitalization of $61.85 billion, a PE ratio of 11.17, a PEG ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 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.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the prior year, the company earned $0.57 earnings per share. Enterprise Products Partners’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm 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 7.37%. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EPD shares. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. cut their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $33.08.

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.