AE Wealth Management LLC Has $1.79 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• AE Wealth Management LLC increased its position in Enterprise Products Partners L.P. by 23.1%, acquiring an additional 9,860 shares, bringing their total holdings to $1.79 million.
• The company recently declared a quarterly dividend of $0.545 per share, marking an increase from the previous $0.54 and resulting in a 6.91% yield.
• Enterprise Products Partners reported $15.42 billion in revenue for the last quarter, exceeding analysts' expectations, but posted an EPS of $0.64, which was below the anticipated $0.69.

AE Wealth Management LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,505 shares of the oil and gas producer's stock after purchasing an additional 9,860 shares during the period. AE Wealth Management LLC's holdings in Enterprise Products Partners were worth $1,792,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the period. Invesco Ltd. increased its holdings in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock worth $849,126,000 after acquiring an additional 359,288 shares in the last quarter. FMR LLC raised its position in shares of Enterprise Products Partners by 2.1% during the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock worth $462,067,000 after purchasing an additional 304,997 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after purchasing an additional 851,188 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its position in shares of Enterprise Products Partners by 11.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock valued at $182,832,000 after purchasing an additional 580,850 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $31.56 on Friday. The stock has a market capitalization of $68.46 billion, a PE ratio of 11.82, a P/E/G ratio of 1.82 and a beta of 0.64. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The firm has a fifty day simple moving average of $31.45 and a 200 day simple moving average of $32.09. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The business's revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date is Thursday, July 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is 80.15%.

Wall Street Analysts Forecast Growth

Several analysts have commented on EPD shares. Citigroup dropped their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. TD Cowen began coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 target price for the company. Barclays lowered their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Finally, Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.36.

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.

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