Maia Wealth LLC Takes $226,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Maia Wealth LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,635 shares of the oil and gas producer’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital lifted its position in Enterprise Products Partners by 2.2% in the 2nd quarter. Wedmont Private Capital now owns 31,377 shares of the oil and gas producer’s stock valued at $922,000 after acquiring an additional 669 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Enterprise Products Partners by 20.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 24,215 shares of the oil and gas producer’s stock worth $702,000 after acquiring an additional 4,084 shares during the last quarter. Alpha Cubed Investments LLC raised its holdings in shares of Enterprise Products Partners by 7.1% in the second quarter. Alpha Cubed Investments LLC now owns 16,055 shares of the oil and gas producer’s stock valued at $465,000 after purchasing an additional 1,061 shares during the last quarter. FLC Capital Advisors increased its stake in Enterprise Products Partners by 6.2% in the 2nd quarter. FLC Capital Advisors now owns 108,787 shares of the oil and gas producer’s stock valued at $3,153,000 after buying an additional 6,364 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in Enterprise Products Partners by 17.6% during the second quarter. Dynamic Advisor Solutions LLC now owns 108,829 shares of the oil and gas producer’s stock worth $3,154,000 after acquiring an additional 16,326 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD stock traded up $0.18 on Wednesday, hitting $28.45. 626,587 shares of the company’s stock were exchanged, compared to its average volume of 4,610,650. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The company has a 50 day moving average of $28.97 and a 200 day moving average of $28.48. The stock has a market cap of $61.78 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The company’s revenue was up 26.6% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.38%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley cut their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $33.08.

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.