CFM Wealth Partners LLC Purchases 18,358 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

CFM Wealth Partners LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 12.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 160,250 shares of the oil and gas producer’s stock after buying an additional 18,358 shares during the period. CFM Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $4,676,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Burkett Financial Services LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $48,000. Livelsberger Financial Advisory purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at approximately $49,000. Community Bank N.A. raised its position in shares of Enterprise Products Partners by 68.3% in the 4th 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 shares of Enterprise Products Partners in the 4th quarter valued at approximately $49,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded down $0.11 during trading on Wednesday, hitting $29.01. 3,145,710 shares of the stock traded hands, compared to its average volume of 4,526,666. The company has a fifty day moving average price of $28.49 and a two-hundred day moving average price of $27.84. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $29.99. The company has a market cap of $63.00 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.35 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99.

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

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.515 per share. The ex-dividend date was Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.10%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Analysts Set New Price Targets

Several equities analysts recently commented on EPD shares. Mizuho reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Morgan Stanley reduced their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Wells Fargo & Company raised their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Barclays raised their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners 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.