Archford Capital Strategies LLC Boosts Stake in Enterprise Products Partners L.P. (EPD)

Archford Capital Strategies LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 42.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,959 shares of the oil and gas producer’s stock after buying an additional 2,071 shares during the period. Archford Capital Strategies LLC’s holdings in Enterprise Products Partners L.P. were worth $192,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Schneider Downs Wealth Management Advisors LP purchased a new position in shares of Enterprise Products Partners L.P. during the first quarter worth approximately $223,000. Honkamp Krueger Financial Services Inc. boosted its position in shares of Enterprise Products Partners L.P. by 30.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 34,848 shares of the oil and gas producer’s stock worth $962,000 after buying an additional 8,204 shares during the last quarter. TNB Financial purchased a new position in shares of Enterprise Products Partners L.P. during the first quarter worth approximately $1,429,000. Spirit of America Management Corp NY boosted its position in shares of Enterprise Products Partners L.P. by 18.7% in the first quarter. Spirit of America Management Corp NY now owns 918,931 shares of the oil and gas producer’s stock worth $25,372,000 after buying an additional 144,950 shares during the last quarter. Finally, E&G Advisors LP boosted its position in shares of Enterprise Products Partners L.P. by 1.8% in the first quarter. E&G Advisors LP now owns 89,612 shares of the oil and gas producer’s stock worth $2,474,000 after buying an additional 1,567 shares during the last quarter. 38.83% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners L.P. (EPD) opened at 25.23 on Friday. Enterprise Products Partners L.P. has a 12 month low of $24.01 and a 12 month high of $30.25. The company has a 50-day moving average price of $26.83 and a 200 day moving average price of $27.29. The stock has a market capitalization of $54.19 billion, a price-to-earnings ratio of 19.85 and a beta of 0.89.

Enterprise Products Partners L.P. (NYSE:EPD) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The business had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.44 billion. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The company’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Equities analysts predict that Enterprise Products Partners L.P. will post $1.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, July 27th. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.68 annualized dividend and a dividend yield of 6.66%. Enterprise Products Partners L.P.’s payout ratio is currently 132.28%.

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A number of brokerages have commented on EPD. Stifel Nicolaus reissued a “buy” rating and set a $33.00 target price on shares of Enterprise Products Partners L.P. in a report on Friday, July 14th. Vetr upgraded Enterprise Products Partners L.P. from a “buy” rating to a “strong-buy” rating and set a $31.42 price target for the company in a research report on Monday, April 24th. Macquarie restated an “outperform” rating and issued a $32.00 price target on shares of Enterprise Products Partners L.P. in a research report on Friday, April 21st. Scotiabank set a $33.00 price target on Enterprise Products Partners L.P. and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Sanford C. Bernstein began coverage on Enterprise Products Partners L.P. in a research report on Tuesday, May 16th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Enterprise Products Partners L.P. currently has a consensus rating of “Buy” and an average price target of $31.62.

Enterprise Products Partners L.P. Company Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Institutional Ownership by Quarter for Enterprise Products Partners L.P. (NYSE:EPD)

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