Diversified Investment Strategies LLC Purchases New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Diversified Investment Strategies LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 1st quarter, Holdings Channel.com reports. The fund acquired 7,405 shares of the oil and gas producer’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Alps Advisors Inc. lifted its holdings in shares of Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares during the period. Blackstone Inc. increased its holdings in shares of Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after buying an additional 2,472,847 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after acquiring an additional 2,155,640 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Enterprise Products Partners by 2.6% in the 3rd quarter. Deutsche Bank AG now owns 4,884,123 shares of the oil and gas producer’s stock valued at $133,678,000 after buying an additional 125,450 shares during the period. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Enterprise Products Partners by 2.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,686,444 shares of the oil and gas producer’s stock worth $123,488,000 after acquiring an additional 109,712 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EPD has been the topic of several research reports. Mizuho reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Morgan Stanley decreased their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Finally, Truist Financial boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Price Performance

EPD stock traded down $0.12 during mid-day trading on Wednesday, hitting $29.00. The stock had a trading volume of 1,667,273 shares, compared to its average volume of 4,514,187. The firm has a fifty day simple moving average of $28.49 and a 200 day simple moving average of $27.84. The firm has a market capitalization of $62.98 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.35 and a beta of 1.03. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $29.99.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.73 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.10%. The ex-dividend date was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

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.