Obermeyer Wealth Partners Raises Position in Enterprise Products Partners L.P. (NYSE:EPD)

Obermeyer Wealth Partners boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 29.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,653 shares of the oil and gas producer's stock after purchasing an additional 15,119 shares during the period. Obermeyer Wealth Partners' holdings in Enterprise Products Partners were worth $2,241,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EPD. Van Strum & Towne Inc. acquired a new position in Enterprise Products Partners in the 1st quarter valued at about $208,000. Edgemoor Investment Advisors Inc. increased its stake in Enterprise Products Partners by 0.4% in the first quarter. Edgemoor Investment Advisors Inc. now owns 310,683 shares of the oil and gas producer's stock valued at $10,607,000 after purchasing an additional 1,257 shares in the last quarter. Chancellor Financial Group WB LP bought a new position in shares of Enterprise Products Partners in the first quarter valued at about $216,000. J.W. Cole Advisors Inc. lifted its holdings in shares of Enterprise Products Partners by 186.3% in the first quarter. J.W. Cole Advisors Inc. now owns 139,181 shares of the oil and gas producer's stock worth $4,752,000 after buying an additional 90,560 shares in the last quarter. Finally, OneAscent Financial Services LLC grew its holdings in shares of Enterprise Products Partners by 100.1% in the first quarter. OneAscent Financial Services LLC now owns 21,192 shares of the oil and gas producer's stock worth $724,000 after purchasing an additional 10,603 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Scotiabank upped 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 report on Thursday, June 5th. Royal Bank Of Canada restated an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, Barclays cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.36.

Enterprise Products Partners Trading Down 0.6%

Shares of NYSE EPD opened at $31.16 on Tuesday. The business has a fifty day simple moving average of $31.50 and a two-hundred day simple moving average of $32.11. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The firm has a market cap of $67.59 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.81 and a beta of 0.64. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

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 EPS 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 company had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a $0.545 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.00%. Enterprise Products Partners's payout ratio is presently 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.

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