Steele Capital Management Inc. Raises Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Steele Capital Management Inc. increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 6.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 18,347 shares of the oil and gas producer’s stock after purchasing an additional 1,105 shares during the period. Steele Capital Management Inc.’s holdings in Enterprise Products Partners were worth $535,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EPD. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at about $263,000. Synovus Financial Corp increased its position in Enterprise Products Partners by 6.5% in the 3rd quarter. Synovus Financial Corp now owns 47,396 shares of the oil and gas producer’s stock valued at $1,297,000 after acquiring an additional 2,902 shares during the period. Waverly Advisors LLC raised its stake in Enterprise Products Partners by 208.6% during the 3rd quarter. Waverly Advisors LLC now owns 69,880 shares of the oil and gas producer’s stock valued at $1,913,000 after acquiring an additional 47,237 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $511,000. Finally, Lazard Asset Management LLC grew its stake in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. Lazard Asset Management LLC now owns 18,835 shares of the oil and gas producer’s stock valued at $515,000 after purchasing an additional 1,606 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

EPD remained flat at $28.98 during trading on Monday. The company’s stock had a trading volume of 3,211,273 shares, compared to its average volume of 4,486,466. 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 firm has a market capitalization of $62.93 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $29.99. The stock’s 50-day moving average price is $28.52 and its 200 day moving average price is $27.90.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were given a $0.515 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.11%. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Barclays lifted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, Truist Financial increased their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $32.77.

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.