Evolve Private Wealth LLC Raises Stock Position in Enterprise Products Partners L.P. $EPD

Key Points

• Evolve Private Wealth LLC increased its stake in Enterprise Products Partners by 662% in the first quarter, ending with 154,492 shares valued at about $5.85 million.
• Analyst sentiment on EPD is mixed but improved recently, with multiple upgrades and a consensus rating of Hold; the average price target stands at $39.94.
• Enterprise Products Partners reported Q1 EPS of $0.68, missing estimates, while revenue of $14.39 billion came in above expectations. The company also paid a $0.55 quarterly dividend, implying a 6.0% yield.

Evolve Private Wealth LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 662.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154,492 shares of the oil and gas producer's stock after buying an additional 134,218 shares during the quarter. Evolve Private Wealth LLC's holdings in Enterprise Products Partners were worth $5,846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC increased its position in shares of Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer's stock worth $661,000 after acquiring an additional 317 shares during the period. ORG Wealth Partners LLC grew its stake in Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer's stock worth $2,125,000 after purchasing an additional 317 shares in the last quarter. Walker Asset Management LLC grew its stake in Enterprise Products Partners by 1.7% during the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer's stock worth $631,000 after purchasing an additional 326 shares in the last quarter. Mission Wealth Management LP increased its holdings in Enterprise Products Partners by 1.0% during the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer's stock worth $1,037,000 after purchasing an additional 328 shares during the period. Finally, Montag A & Associates Inc. increased its holdings in Enterprise Products Partners by 5.9% during the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer's stock worth $189,000 after purchasing an additional 330 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EPD shares. Wells Fargo & Company upgraded Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Jefferies Financial Group raised their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a "hold" rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Finally, Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $39.94.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $36.60 on Monday. The company's 50 day simple moving average is $37.87 and its 200-day simple moving average is $35.83. The firm has a market cap of $79.12 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to analysts' expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio is presently 81.48%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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