GPS Wealth Strategies Group LLC Lowers Position in Enterprise Products Partners L.P. (NYSE:EPD)

GPS Wealth Strategies Group LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,035 shares of the oil and gas producer’s stock after selling 483 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Enterprise Products Partners were worth $204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Accordant Advisory Group Inc bought a new stake in Enterprise Products Partners during the first quarter worth about $26,000. Burkett Financial Services LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $28,000. Stephens Consulting LLC bought a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $29,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $29,000. Finally, First Command Advisory Services Inc. increased its position in Enterprise Products Partners by 130.4% during the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD traded up $0.24 during midday trading on Thursday, reaching $29.13. The company had a trading volume of 875,407 shares, compared to its average volume of 4,632,815. The business has a 50-day moving average of $28.98 and a two-hundred day moving average of $28.48. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a market cap of $63.26 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.33 and a beta of 1.04.

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 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 firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter last year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.21%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analysts Set New Price Targets

A number of research firms have recently commented on EPD. JPMorgan Chase & Co. cut 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. Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Morgan Stanley lowered their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.08.

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.