Sound Income Strategies LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sound Income Strategies LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 67.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,456 shares of the oil and gas producer’s stock after purchasing an additional 6,602 shares during the period. Sound Income Strategies LLC’s holdings in Enterprise Products Partners were worth $562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPD. Brighton Jones LLC boosted its position in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Enterprise Products Partners by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 95,029 shares of the oil and gas producer’s stock worth $2,980,000 after buying an additional 10,090 shares in the last quarter. Spinnaker Trust acquired a new position in Enterprise Products Partners during the 4th quarter worth $280,000. Aveo Capital Partners LLC grew its holdings in Enterprise Products Partners by 52.3% during the 4th quarter. Aveo Capital Partners LLC now owns 16,755 shares of the oil and gas producer’s stock worth $525,000 after acquiring an additional 5,755 shares in the last quarter. Finally, Puff Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $208,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $32.01 on Monday. The stock has a market cap of $69.43 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.37 and a beta of 0.65. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The stock’s 50 day moving average price is $30.99 and its 200 day moving average price is $32.21.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.68%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent research reports. Morgan Stanley increased their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Scotiabank lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, June 5th. Barclays dropped their price target on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, May 20th. Finally, Citigroup reduced their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.67.

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.