Maia Wealth LLC Raises Stock Holdings in Enterprise Products Partners L.P. $EPD

Maia Wealth LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 35.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,828 shares of the oil and gas producer’s stock after purchasing an additional 3,324 shares during the period. Maia Wealth LLC’s holdings in Enterprise Products Partners were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of Enterprise Products Partners by 1.4% in the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock valued at $578,406,000 after buying an additional 252,513 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Enterprise Products Partners by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after acquiring an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC lifted its position in Enterprise Products Partners by 1.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after acquiring an additional 81,135 shares during the last quarter. Hamlin Capital Management LLC boosted its stake in Enterprise Products Partners by 1.8% in the second quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock valued at $154,896,000 after acquiring an additional 89,987 shares in the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in Enterprise Products Partners by 2.8% in the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after purchasing an additional 128,545 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Scotiabank lowered their price target on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Stock Performance

EPD opened at $32.56 on Thursday. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $70.44 billion, a PE ratio of 12.10, a P/E/G ratio of 2.22 and a beta of 0.67. The firm has a 50 day moving average of $31.34 and a two-hundred day moving average of $31.46.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Enterprise Products Partners announced that its Board of Directors has approved a share repurchase program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.