Merit Financial Group LLC Purchases 16,136 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Merit Financial Group LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 65.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,965 shares of the oil and gas producer's stock after buying an additional 16,136 shares during the quarter. Merit Financial Group LLC's holdings in Enterprise Products Partners were worth $1,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EPD. Lbmc Investment Advisors LLC raised its stake in shares of Enterprise Products Partners by 12.7% during the first quarter. Lbmc Investment Advisors LLC now owns 7,896 shares of the oil and gas producer's stock valued at $270,000 after acquiring an additional 889 shares during the last quarter. Milestone Asset Management LLC increased its holdings in Enterprise Products Partners by 35.6% during the 1st quarter. Milestone Asset Management LLC now owns 34,393 shares of the oil and gas producer's stock valued at $1,174,000 after purchasing an additional 9,024 shares during the period. NBC Securities Inc. raised its position in Enterprise Products Partners by 107,428.1% during the 1st quarter. NBC Securities Inc. now owns 34,409 shares of the oil and gas producer's stock valued at $1,174,000 after purchasing an additional 34,377 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $379,000. Finally, 180 Wealth Advisors LLC grew its position in shares of Enterprise Products Partners by 44.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 31,485 shares of the oil and gas producer's stock worth $1,075,000 after buying an additional 9,701 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Up 0.7%

Shares of Enterprise Products Partners stock traded up $0.23 during trading on Tuesday, hitting $31.95. The company's stock had a trading volume of 3,981,777 shares, compared to its average volume of 4,424,047. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a fifty day simple moving average of $30.86 and a two-hundred day simple moving average of $32.24. The company has a market capitalization of $69.29 billion, a PE ratio of 11.88, a P/E/G ratio of 1.37 and a beta of 0.65.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is 80.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, Scotiabank increased their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. 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. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of "Moderate Buy" and an average price target of $36.67.

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.