Enterprise Products Partners L.P. (NYSE:EPD) Stake Raised by Mosaic Family Wealth Partners LLC

Mosaic Family Wealth Partners LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 36,460 shares of the oil and gas producer’s stock after purchasing an additional 407 shares during the quarter. Mosaic Family Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $1,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in Enterprise Products Partners by 18.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,655 shares of the oil and gas producer’s stock worth $271,000 after buying an additional 1,510 shares during the period. Tactive Advisors LLC raised its holdings in Enterprise Products Partners by 12.4% during the 1st quarter. Tactive Advisors LLC now owns 18,991 shares of the oil and gas producer’s stock worth $554,000 after buying an additional 2,098 shares during the period. Granite Group Advisors LLC grew its stake in Enterprise Products Partners by 5.3% during the 1st quarter. Granite Group Advisors LLC now owns 10,075 shares of the oil and gas producer’s stock valued at $294,000 after acquiring an additional 505 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Enterprise Products Partners during the 1st quarter valued at about $7,590,000. Finally, Cetera Advisors LLC grew its stake in Enterprise Products Partners by 60.5% during the 1st quarter. Cetera Advisors LLC now owns 355,053 shares of the oil and gas producer’s stock valued at $10,360,000 after acquiring an additional 133,904 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EPD shares. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Finally, Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.08.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded down $0.08 during midday trading on Friday, hitting $28.48. The company’s stock had a trading volume of 7,584,700 shares, compared to its average volume of 4,698,681. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The stock’s 50 day simple moving average is $28.92 and its 200 day simple moving average is $28.39. The stock has a market capitalization of $61.85 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period last year, the business earned $0.57 EPS. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.37%. Enterprise Products Partners’s payout ratio is 82.35%.

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.