108,605 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Bought by PFG Investments LLC

PFG Investments LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 108,605 shares of the oil and gas producer's stock, valued at approximately $3,169,000.

A number of other institutional investors have also added to or reduced their stakes in the company. MBL Wealth LLC acquired a new position in shares of Enterprise Products Partners in the first quarter valued at $211,000. Accordant Advisory Group Inc acquired a new position in shares of Enterprise Products Partners in the first quarter valued at $26,000. Lakewood Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 24.3% in the first quarter. Lakewood Asset Management LLC now owns 51,167 shares of the oil and gas producer's stock valued at $1,493,000 after purchasing an additional 10,008 shares during the last quarter. GraniteShares Advisors LLC increased its holdings in shares of Enterprise Products Partners by 14.6% in the first quarter. GraniteShares Advisors LLC now owns 64,262 shares of the oil and gas producer's stock valued at $1,875,000 after purchasing an additional 8,176 shares during the last quarter. Finally, American Institute for Advanced Investment Management LLP increased its holdings in shares of Enterprise Products Partners by 20.7% in the first quarter. American Institute for Advanced Investment Management LLP now owns 14,280 shares of the oil and gas producer's stock valued at $417,000 after purchasing an additional 2,450 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of EPD stock traded up $0.13 on Friday, reaching $29.06. The company had a trading volume of 7,621,520 shares, compared to its average volume of 4,698,358. The stock has a market capitalization of $63.01 billion, a PE ratio of 11.53 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99. The business's 50-day moving average is $28.58 and its 200 day moving average is $27.33.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $14.62 billion during the quarter, compared to analysts' expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.09%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.75%.

Analysts Set New Price Targets

EPD has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, February 21st. Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Mizuho reissued a "buy" rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Wells Fargo & Company boosted their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, April 4th. Finally, Scotiabank boosted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a "sector outperform" rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $32.58.

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.

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