Enterprise Products Partners L.P. (EPD) Stake Boosted by Acorn Wealth Advisors LLC

Acorn Wealth Advisors LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.1% during the 1st quarter, Holdings Channel reports. The firm owned 25,596 shares of the oil and gas producer’s stock after buying an additional 520 shares during the period. Acorn Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $751,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in EPD. Deutsche Bank AG lifted its stake in Enterprise Products Partners by 71.9% during the 4th quarter. Deutsche Bank AG now owns 11,279,445 shares of the oil and gas producer’s stock worth $277,359,000 after acquiring an additional 4,719,647 shares in the last quarter. Bank of Montreal Can lifted its stake in Enterprise Products Partners by 86.9% during the 1st quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock worth $260,084,000 after acquiring an additional 4,156,710 shares in the last quarter. Energy Income Partners LLC lifted its stake in Enterprise Products Partners by 14.2% during the 4th quarter. Energy Income Partners LLC now owns 20,868,803 shares of the oil and gas producer’s stock worth $513,164,000 after acquiring an additional 2,596,527 shares in the last quarter. BlackRock Inc. lifted its stake in Enterprise Products Partners by 14.3% during the 4th quarter. BlackRock Inc. now owns 15,304,914 shares of the oil and gas producer’s stock worth $376,347,000 after acquiring an additional 1,912,588 shares in the last quarter. Finally, Ronna Sue Cohen lifted its stake in Enterprise Products Partners by 2,830.8% during the 1st quarter. Ronna Sue Cohen now owns 1,312,120 shares of the oil and gas producer’s stock worth $1,312,000 after acquiring an additional 1,267,350 shares in the last quarter. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE EPD opened at $28.92 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.58 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 1-year low of $23.33 and a 1-year high of $30.05. The stock has a market cap of $62.50 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 3.53 and a beta of 0.95.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Enterprise Products Partners had a return on equity of 19.50% and a net margin of 12.67%. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the prior year, the business earned $0.41 EPS. Enterprise Products Partners’s revenue was down 8.1% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th were issued a dividend of $0.4375 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.75 annualized dividend and a yield of 6.05%. Enterprise Products Partners’s dividend payout ratio is 90.21%.

Several research firms recently issued reports on EPD. Zacks Investment Research raised Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Thursday, April 11th. Bank of America set a $32.00 target price on Enterprise Products Partners and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Evercore ISI began coverage on Enterprise Products Partners in a research note on Tuesday, February 5th. They set an “outperform” rating on the stock. Finally, Goldman Sachs Group raised Enterprise Products Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $32.00 in a research note on Tuesday, April 2nd. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $33.27.

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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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