Signal Advisors Wealth LLC Purchases 16,730 Shares of Enterprise Products Partners L.P. $EPD

Signal Advisors Wealth LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 53.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,859 shares of the oil and gas producer’s stock after purchasing an additional 16,730 shares during the period. Signal Advisors Wealth LLC’s holdings in Enterprise Products Partners were worth $1,811,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. PMV Capital Advisers LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Texas Capital Bancshares Inc TX bought a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Daytona Street Capital LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at approximately $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at $45,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EPD shares. Citigroup reissued a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. UBS Group reaffirmed a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, Royal Bank Of Canada lifted their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.94.

Enterprise Products Partners Stock Performance

EPD stock opened at $37.17 on Wednesday. The stock has a 50-day moving average price of $37.84 and a 200-day moving average price of $35.90. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The firm has a market cap of $80.35 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.