17,466 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 17,466 shares of the oil and gas producer’s stock, valued at approximately $510,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. purchased a new position in Enterprise Products Partners during the 3rd quarter worth approximately $263,000. Synovus Financial Corp raised its position in Enterprise Products Partners by 6.5% during the third quarter. Synovus Financial Corp now owns 47,396 shares of the oil and gas producer’s stock valued at $1,297,000 after buying an additional 2,902 shares during the period. Morningstar Investment Services LLC lifted its stake in Enterprise Products Partners by 0.3% in the 3rd quarter. Morningstar Investment Services LLC now owns 236,077 shares of the oil and gas producer’s stock worth $6,473,000 after acquiring an additional 672 shares in the last quarter. Cape Cod Five Cents Savings Bank boosted its position in Enterprise Products Partners by 100.0% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 16,540 shares of the oil and gas producer’s stock worth $453,000 after acquiring an additional 8,270 shares during the period. Finally, Infrastructure Capital Advisors LLC grew its stake in Enterprise Products Partners by 3.9% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 1,896,043 shares of the oil and gas producer’s stock valued at $51,895,000 after acquiring an additional 71,562 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.4 %

Shares of Enterprise Products Partners stock opened at $29.01 on Thursday. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $29.99. The stock has a market capitalization of $63.00 billion, a P/E ratio of 11.38, a PEG ratio of 1.35 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $28.49 and a two-hundred day moving average price of $27.84.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $13.82 billion. During the same period last year, the business posted $0.64 EPS. Enterprise Products Partners’s revenue was up 18.6% compared to the same quarter last year. Equities 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. Investors of record on Tuesday, April 30th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.10%. Enterprise Products Partners’s payout ratio is 80.78%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EPD shares. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Barclays lifted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Morgan Stanley dropped 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 note on Monday, June 10th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, Truist Financial upped 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. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and a consensus price target 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.