Private Advisor Group LLC Has $14.16 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Private Advisor Group LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 414,611 shares of the oil and gas producer's stock after buying an additional 24,376 shares during the quarter. Private Advisor Group LLC's holdings in Enterprise Products Partners were worth $14,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Alps Advisors Inc. boosted its holdings in Enterprise Products Partners by 5.0% during the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the last quarter. Truist Financial Corp boosted its holdings in Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock worth $68,927,000 after buying an additional 1,506,055 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Enterprise Products Partners during the fourth quarter worth about $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after purchasing an additional 851,188 shares in the last quarter. Finally, KDK Private Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $22,333,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.4%

Shares of NYSE:EPD traded up $0.13 during trading on Friday, hitting $31.37. 3,712,011 shares of the company were exchanged, compared to its average volume of 4,480,593. The stock has a market cap of $68.04 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 1.81 and a beta of 0.64. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The firm has a fifty day moving average price of $31.50 and a two-hundred day moving average price of $32.10. The company has a current ratio of 0.86, a quick ratio of 0.64 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 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. As a group, research 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a dividend of $0.545 per share. The ex-dividend date is Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.95%. Enterprise Products Partners's payout ratio is presently 81.65%.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Scotiabank lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Finally, TD Cowen initiated coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price objective on the stock. Five 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.36.

Enterprise Products Partners Company 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.