Crewe Advisors LLC Acquires 3,908 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Crewe Advisors LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 26,053.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,923 shares of the oil and gas producer’s stock after purchasing an additional 3,908 shares during the period. Crewe Advisors LLC’s holdings in Enterprise Products Partners were worth $114,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in EPD. Accordant Advisory Group Inc bought a new position in Enterprise Products Partners in the 1st quarter worth approximately $26,000. Burkett Financial Services LLC bought a new position in Enterprise Products Partners in the 4th quarter worth approximately $28,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth approximately $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth approximately $29,000. Finally, First Command Advisory Services Inc. grew its holdings in shares of Enterprise Products Partners by 130.4% during the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 913 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

EPD stock traded down $0.13 during trading on Thursday, hitting $29.57. The company had a trading volume of 3,510,332 shares, compared to its average volume of 4,382,458. 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 company has a market cap of $64.21 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.40 and a beta of 1.04. The company has a fifty day moving average price of $28.83 and a two-hundred day moving average price of $28.29. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.10%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 80.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EPD shares. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Morgan Stanley decreased their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Truist Financial lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Scotiabank lifted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.77.

About Enterprise Products Partners

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.