RWA Wealth Partners LLC Increases Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• RWA Wealth Partners LLC increased its holdings in Enterprise Products Partners L.P. by 133.0%, acquiring an additional 44,685 shares in the first quarter, bringing its total to 78,279 shares valued at $2.67 million.
• Enterprise Products Partners has recently raised its quarterly dividend to $0.545, resulting in a 7% annual yield, highlighting a positive change in its financial performance despite a 15.7% decrease in quarterly revenue compared to the previous year.
• Analyst ratings for Enterprise Products Partners show a consensus rating of "Moderate Buy" with a price target of $36.25, indicating a favorable outlook among financial experts.

RWA Wealth Partners LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 133.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,279 shares of the oil and gas producer's stock after acquiring an additional 44,685 shares during the quarter. RWA Wealth Partners LLC's holdings in Enterprise Products Partners were worth $2,672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. ING Groep NV purchased a new stake in Enterprise Products Partners in the first quarter worth $71,052,000. Alps Advisors Inc. lifted its stake in Enterprise Products Partners by 5.0% in 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 acquiring an additional 1,967,188 shares during the period. JPMorgan Chase & Co. lifted its stake in Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock worth $148,415,000 after acquiring an additional 1,717,768 shares during the period. Truist Financial Corp lifted its stake in Enterprise Products Partners by 293.6% in 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 acquiring an additional 1,506,055 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Enterprise Products Partners in the fourth quarter worth $36,279,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $31.31 on Tuesday. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The business has a fifty day moving average price of $31.40 and a 200-day moving average price of $31.84. The company has a market capitalization of $67.79 billion, a PE ratio of 11.64, a PEG ratio of 1.82 and a beta of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. Enterprise Products Partners's revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 7.0%. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is 81.04%.

Insider Activity

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director owned 136,920 shares of the company's stock, valued at $4,319,826. This represents a 13.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John R. Rutherford acquired 15,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EPD has been the subject of a number of research analyst reports. Barclays dropped their price target on 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. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Citigroup decreased their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Scotiabank increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Finally, Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.25.

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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