Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Spire Wealth Management

Spire Wealth Management raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 92.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 55,274 shares of the oil and gas producer's stock after purchasing an additional 26,498 shares during the period. Spire Wealth Management's holdings in Enterprise Products Partners were worth $1,887,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EPD. Brighton Jones LLC increased its position in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after purchasing an additional 5,425 shares during the period. Whipplewood Advisors LLC purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $1,919,000. Schnieders Capital Management LLC increased its position in Enterprise Products Partners by 11.8% during the 4th quarter. Schnieders Capital Management LLC now owns 54,168 shares of the oil and gas producer's stock valued at $1,699,000 after purchasing an additional 5,715 shares during the period. Oppenheimer & Co. Inc. increased its position in Enterprise Products Partners by 1.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 448,299 shares of the oil and gas producer's stock valued at $14,059,000 after purchasing an additional 5,801 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Enterprise Products Partners by 3.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 73,636 shares of the oil and gas producer's stock valued at $2,309,000 after purchasing an additional 2,162 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

EPD has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Barclays cut their price objective on shares of Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Citigroup cut their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.67.

Enterprise Products Partners Trading Down 0.1%

Shares of EPD traded down $0.03 during mid-day trading on Friday, hitting $31.06. The company had a trading volume of 3,386,183 shares, compared to its average volume of 4,461,122. The business's 50-day simple moving average is $31.21 and its 200-day simple moving average is $32.09. 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 L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The stock has a market cap of $67.37 billion, a PE ratio of 11.63, a P/E/G ratio of 1.27 and a beta of 0.65.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The firm 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 10.26% and a return on equity of 19.90%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

About Enterprise Products Partners

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.