Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Welch Group LLC

Welch Group LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 25.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,863 shares of the oil and gas producer’s stock after buying an additional 2,637 shares during the quarter. Welch Group LLC’s holdings in Enterprise Products Partners were worth $375,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Burkett Financial Services LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $28,000. Financial Gravity Asset Management Inc. purchased a new position in Enterprise Products Partners in the third quarter valued at about $48,000. Livelsberger Financial Advisory purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $49,000. Community Bank N.A. boosted its holdings in Enterprise Products Partners by 68.3% in the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 750 shares during the last quarter. Finally, American National Bank purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EPD. Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Wells Fargo & Company increased their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Mizuho reissued a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. JPMorgan Chase & Co. reduced their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Finally, Truist Financial raised their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Stock Up 1.0 %

EPD opened at $28.59 on Friday. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $29.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a market cap of $62.08 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.31 and a beta of 1.03. The stock’s 50 day moving average price is $28.48 and its 200 day moving average price is $27.77.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.73 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date was Monday, April 29th. Enterprise Products Partners’s payout ratio is 80.78%.

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.