EverSource Wealth Advisors LLC Acquires 1,510 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

EverSource Wealth Advisors LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 18.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,655 shares of the oil and gas producer’s stock after acquiring an additional 1,510 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $271,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. JRM Investment Counsel LLC grew its holdings in Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after acquiring an additional 10,404 shares during the last quarter. Linscomb & Williams Inc. lifted its position in shares of Enterprise Products Partners by 16.6% in the 4th quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after purchasing an additional 29,112 shares during the period. Cerity Partners LLC lifted its position in shares of Enterprise Products Partners by 89.9% in the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after purchasing an additional 137,044 shares during the period. Natixis Advisors L.P. acquired a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $314,000. Finally, Sapient Capital LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $3,271,000. 26.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EPD shares. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. dropped their target price on shares of 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. Morgan Stanley dropped their target price 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. Finally, Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Performance

Shares of EPD traded down $0.08 during trading hours on Friday, hitting $28.48. The company’s stock had a trading volume of 7,584,700 shares, compared to its average volume of 4,698,681. The company has a market cap of $61.85 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The business has a 50 day simple moving average of $28.92 and a two-hundred day simple moving average of $28.39. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results 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). The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. Enterprise Products Partners’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company 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. The ex-dividend date is Wednesday, July 31st. This represents a $2.10 annualized dividend and a yield of 7.37%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 82.35%.

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.