Barry Investment Advisors LLC Makes New $207,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Barry Investment Advisors LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,089 shares of the oil and gas producer’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. SteelPeak Wealth LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $991,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $29,000. Red Door Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 7.4% during the first quarter. Red Door Wealth Management LLC now owns 49,989 shares of the oil and gas producer’s stock worth $1,459,000 after buying an additional 3,443 shares in the last quarter. Private Ocean LLC increased its holdings in shares of Enterprise Products Partners by 164.8% during the first quarter. Private Ocean LLC now owns 15,609 shares of the oil and gas producer’s stock worth $455,000 after buying an additional 9,715 shares in the last quarter. Finally, Avity Investment Management Inc. acquired a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $1,587,000. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enterprise Products Partners Trading Up 0.3 %

Shares of NYSE EPD traded up $0.08 during midday trading on Friday, reaching $28.98. 2,812,626 shares of the stock were exchanged, compared to its average volume of 2,810,585. The business has a 50-day simple moving average of $28.52 and a two-hundred day simple moving average of $27.90. The company has a market capitalization of $62.93 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.35 and a beta of 1.03. 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.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Announces Dividend

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