Mayflower Financial Advisors LLC Increases Stock Position in Enterprise Products Partners L.P. $EPD

Mayflower Financial Advisors LLC increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 7.5% in the second quarter, Holdings Channel.com reports. The fund owned 33,212 shares of the oil and gas producer’s stock after purchasing an additional 2,325 shares during the period. Mayflower Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $1,030,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EPD. Brighton Jones LLC raised its holdings in Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in Enterprise Products Partners by 27.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 9,270 shares of the oil and gas producer’s stock worth $316,000 after acquiring an additional 2,012 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in Enterprise Products Partners in the 1st quarter worth approximately $39,000. Mather Group LLC. raised its holdings in Enterprise Products Partners by 2.1% in the 1st quarter. Mather Group LLC. now owns 26,829 shares of the oil and gas producer’s stock worth $916,000 after acquiring an additional 557 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in Enterprise Products Partners by 48.1% in the 1st quarter. Clear Creek Financial Management LLC now owns 15,473 shares of the oil and gas producer’s stock worth $528,000 after acquiring an additional 5,028 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 0.4%

NYSE:EPD opened at $31.10 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The firm has a market capitalization of $67.33 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 2.23 and a beta of 0.64. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The business has a fifty day moving average price of $31.44 and a 200-day moving average price of $31.33.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is 81.04%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EPD shares. Morgan Stanley decreased their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Stifel Nicolaus decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 target price for the company. Finally, Barclays decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Enterprise Products Partners Company 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.