Spire Wealth Management Buys 26,498 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

by · The Markets Daily

Spire Wealth Management increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 92.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,274 shares of the oil and gas producer’s stock after acquiring an additional 26,498 shares during the quarter. Spire Wealth Management’s holdings in Enterprise Products Partners were worth $1,887,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EPD. Steward Partners Investment Advisory LLC raised its holdings in shares of Enterprise Products Partners by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock worth $9,726,000 after acquiring an additional 21,192 shares during the last quarter. Trek Financial LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at about $3,405,000. Cerity Partners LLC lifted its position in Enterprise Products Partners by 18.9% in the 4th quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer’s stock valued at $14,661,000 after acquiring an additional 74,710 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after acquiring an additional 308 shares in the last quarter. Finally, Fiducient Advisors LLC lifted its position in shares of Enterprise Products Partners by 37.3% during the 4th quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer’s stock worth $2,428,000 after buying an additional 21,025 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup dropped their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. lifted their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Barclays reduced their price objective on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.67.

Get Our Latest Stock Analysis on Enterprise Products Partners

Enterprise Products Partners Stock Up 1.1%

Enterprise Products Partners stock opened at $31.09 on Friday. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The firm has a market capitalization of $67.43 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.27 and a beta of 0.65. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. The firm has a 50 day simple moving average of $31.21 and a 200 day simple moving average of $32.09.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.88%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

Enterprise Products Partners Company Profile

(Free Report)

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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