OneAscent Financial Services LLC Buys 10,603 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

OneAscent Financial Services LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 100.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,192 shares of the oil and gas producer's stock after acquiring an additional 10,603 shares during the period. OneAscent Financial Services LLC's holdings in Enterprise Products Partners were worth $724,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Security National Bank acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $30,000. Alpine Bank Wealth Management purchased a new stake in shares of Enterprise Products Partners in the first quarter worth approximately $31,000. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $30,000. Finally, National Bank of Canada FI grew its position in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 360 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. boosted 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 report on Thursday, March 27th. Mizuho lowered their price objective on shares of Enterprise Products Partners from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. Citigroup lowered their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.36.

Enterprise Products Partners Trading Down 0.6%

NYSE:EPD opened at $31.16 on Tuesday. The stock has a fifty day moving average price of $31.50 and a 200 day moving average price of $32.11. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. 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. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results 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). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

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