Simplicity Wealth LLC Invests $256,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Simplicity Wealth LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, Holdings Channel reports. The firm purchased 7,486 shares of the oil and gas producer’s stock, valued at approximately $256,000.

Several other institutional investors have also added to or reduced their stakes in EPD. Tidemark LLC raised its holdings in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners in the 4th quarter worth $30,000. National Bank of Canada FI lifted its position in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 360 shares during the period. Finally, Colonial Trust Co SC increased its position in shares of Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 314 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.5%

NYSE:EPD opened at $31.95 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market cap of $69.30 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.37 and a beta of 0.65. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The firm has a 50-day simple moving average of $30.93 and a two-hundred day simple moving average of $32.23.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Analysts Set New Price Targets

Several analysts have weighed in on EPD shares. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Barclays dropped their price target on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 20th. Scotiabank increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, June 5th. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. 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 equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.67.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.