Strategic Financial Concepts LLC Invests $514,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Strategic Financial Concepts LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 17,608 shares of the oil and gas producer’s stock, valued at approximately $514,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kessler Investment Group LLC boosted its stake in Enterprise Products Partners by 86.7% in the first quarter. Kessler Investment Group LLC now owns 12,871 shares of the oil and gas producer’s stock valued at $376,000 after acquiring an additional 5,977 shares during the last quarter. PFG Investments LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth $3,169,000. MBL Wealth LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $211,000. Accordant Advisory Group Inc acquired a new position in Enterprise Products Partners in the first quarter valued at about $26,000. Finally, Lakewood Asset Management LLC boosted its holdings in Enterprise Products Partners by 24.3% during the first quarter. Lakewood Asset Management LLC now owns 51,167 shares of the oil and gas producer’s stock worth $1,493,000 after buying an additional 10,008 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 1.8 %

Shares of Enterprise Products Partners stock traded down $0.52 on Tuesday, reaching $28.07. 8,876,852 shares of the company were exchanged, compared to its average volume of 5,008,442. The company has a 50-day moving average of $28.62 and a 200 day moving average of $27.34. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99. The company has a market capitalization of $60.86 billion, a price-to-earnings ratio of 11.14 and a beta of 1.02. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same period in the prior year, the firm posted $0.65 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.34%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is presently 81.75%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EPD shares. Wells Fargo & Company upped their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Scotiabank lifted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Mizuho reiterated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.58.

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.