Kingswood Wealth Advisors LLC Increases Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Kingswood Wealth Advisors LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 247.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,698 shares of the oil and gas producer's stock after buying an additional 62,446 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Enterprise Products Partners were worth $3,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FourThought Financial Partners LLC increased its holdings in Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock worth $4,407,000 after acquiring an additional 21,970 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Enterprise Products Partners by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock worth $9,726,000 after purchasing an additional 21,192 shares in the last quarter. Trek Financial LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $3,405,000. Cerity Partners LLC increased its stake in shares of Enterprise Products Partners by 18.9% during the fourth quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer's stock worth $14,661,000 after purchasing an additional 74,710 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock worth $78,000 after purchasing an additional 308 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EPD has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Barclays dropped their price target on Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, May 20th. Morgan Stanley upped their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. Finally, Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Enterprise Products Partners Trading Up 0.2%

Shares of EPD traded up $0.07 during mid-day trading on Friday, reaching $31.19. The stock had a trading volume of 3,487,717 shares, compared to its average volume of 4,456,187. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The business's fifty day moving average is $31.19 and its 200 day moving average is $32.13. The firm has a market cap of $67.64 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.29 and a beta of 0.65.

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

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.86%. Enterprise Products Partners's payout ratio is 80.15%.

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.