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

Steele Capital Management Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,347 shares of the oil and gas producer’s stock after acquiring an additional 1,105 shares during the period. Steele Capital Management Inc.’s holdings in Enterprise Products Partners were worth $535,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in EPD. Hexagon Capital Partners LLC grew its position in shares of Enterprise Products Partners by 7.9% during the first quarter. Hexagon Capital Partners LLC now owns 5,746 shares of the oil and gas producer’s stock worth $168,000 after acquiring an additional 421 shares during the last quarter. Aviance Capital Partners LLC lifted its position in Enterprise Products Partners by 51.7% in the 1st quarter. Aviance Capital Partners LLC now owns 14,675 shares of the oil and gas producer’s stock valued at $428,000 after purchasing an additional 5,000 shares during the last quarter. Barry Investment Advisors LLC acquired a new position in Enterprise Products Partners during the 1st quarter valued at about $207,000. SteelPeak Wealth LLC bought a new position in Enterprise Products Partners in the 1st quarter worth about $991,000. Finally, Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $29,000. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EPD shares. Truist Financial boosted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their price target on 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 Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. cut their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $32.77.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD remained flat at $28.98 during midday trading on Monday. 3,211,273 shares of the company were exchanged, compared to its average volume of 4,486,466. The stock 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 twelve month low of $25.61 and a twelve month high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $28.52 and a 200 day moving average price of $27.90.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 19.73% and a net margin of 10.76%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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

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.