Enterprise Products Partners L.P. $EPD Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 7.3% in the 1st quarter, HoldingsChannel reports. The fund owned 568,476 shares of the oil and gas producer’s stock after purchasing an additional 38,739 shares during the quarter. iA Global Asset Management Inc.’s holdings in Enterprise Products Partners were worth $21,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in shares of Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. increased its position in shares of Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after purchasing an additional 3,742 shares during the last quarter. Guggenheim Capital LLC raised its holdings in Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after buying an additional 1,578 shares during the period. Finally, Glenview Trust co raised its holdings in Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after buying an additional 25,555 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.2%

Shares of NYSE:EPD opened at $36.75 on Wednesday. The firm has a market capitalization of $79.44 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm’s 50-day moving average is $37.79 and its two-hundred day moving average is $36.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same period in the previous year, the business posted $0.64 EPS. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays increased their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Scotiabank restated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Finally, Truist Financial boosted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.