Aviance Capital Partners LLC Grows Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Aviance Capital Partners LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 51.7% during the first quarter, Holdings Channel reports. The institutional investor owned 14,675 shares of the oil and gas producer’s stock after acquiring an additional 5,000 shares during the quarter. Aviance Capital Partners LLC’s holdings in Enterprise Products Partners were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JRM Investment Counsel LLC boosted its stake in shares of Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after acquiring an additional 10,404 shares in the last quarter. Linscomb & Williams Inc. boosted its position in Enterprise Products Partners by 16.6% during the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after purchasing an additional 29,112 shares in the last quarter. Cerity Partners LLC grew its holdings in Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares during the period. Natixis Advisors L.P. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $314,000. Finally, Sapient Capital LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $3,271,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.3 %

Shares of EPD traded up $0.08 during mid-day trading on Monday, reaching $29.06. The stock had a trading volume of 312,629 shares, compared to its average volume of 4,463,278. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $29.99. The firm has a market cap of $63.11 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.35 and a beta of 1.04. The business’s fifty day moving average is $28.52 and its 200 day moving average is $27.90. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were given a $0.515 dividend. The ex-dividend date was Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EPD shares. Truist Financial boosted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Morgan Stanley reduced their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. JPMorgan Chase & Co. lowered their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, Wells Fargo & Company lifted their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $32.77.

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.