Enterprise Products Partners L.P. (NYSE:EPD) Position Lifted by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 236.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 97,583 shares of the oil and gas producer's stock after acquiring an additional 68,606 shares during the quarter. Turtle Creek Wealth Advisors LLC's holdings in Enterprise Products Partners were worth $3,331,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased its position in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 314 shares in the last quarter. Tidemark LLC grew its holdings in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 318 shares during the period. Axxcess Wealth Management LLC grew its holdings in Enterprise Products Partners by 2.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 14,346 shares of the oil and gas producer's stock valued at $450,000 after buying an additional 325 shares during the period. Strategic Advisors LLC grew its holdings in Enterprise Products Partners by 3.5% in the 1st quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock valued at $341,000 after buying an additional 337 shares during the period. Finally, Full Sail Capital LLC grew its holdings in Enterprise Products Partners by 3.9% in the 4th quarter. Full Sail Capital LLC now owns 9,081 shares of the oil and gas producer's stock valued at $285,000 after buying an additional 341 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Down 0.9%

Enterprise Products Partners stock traded down $0.27 during midday trading on Thursday, hitting $31.23. 4,122,050 shares of the company were exchanged, compared to its average volume of 4,481,071. The company's fifty day moving average price is $31.49 and its 200-day moving average price is $32.10. The company has a market cap of $67.73 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.35 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio 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.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results 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). 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 during the quarter, compared to analyst estimates of $14.14 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The business's revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS 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. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 6.98%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is 80.15%.

Wall Street Analysts Forecast Growth

Several research firms have commented on EPD. JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target for the company. Citigroup reduced their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Royal Bank Of Canada reiterated an "outperform" rating and set a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, Scotiabank boosted their target price 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. Five 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.com, Enterprise Products Partners currently has an average rating of "Moderate Buy" and an average price target of $36.36.

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.