Redhawk Wealth Advisors Inc. Takes Position in Enterprise Products Partners L.P. $EPD

Redhawk Wealth Advisors Inc. bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 31,821 shares of the oil and gas producer’s stock, valued at approximately $1,170,000.

Several other institutional investors also recently modified their holdings of the business. Everest Financial Group LLC lifted its position in Enterprise Products Partners by 3.6% during the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after acquiring an additional 271 shares during the period. Walker Asset Management LLC grew its holdings in Enterprise Products Partners by 1.5% in the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock worth $756,000 after purchasing an additional 296 shares during the period. Hobbs Group Advisors LLC increased its stake in shares of Enterprise Products Partners by 1.4% during the first quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock valued at $791,000 after purchasing an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC increased its stake in shares of Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after purchasing an additional 300 shares in the last quarter. Finally, Mission Wealth Management LP lifted its holdings in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after purchasing an additional 328 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EPD. TD Cowen reissued a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Scotiabank reissued a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Finally, Weiss Ratings downgraded Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $37.87 on Wednesday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The business has a 50-day simple moving average of $37.56 and a two-hundred day simple moving average of $37.26. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market cap of $81.86 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.80%. The firm had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter last year, the firm posted $0.66 EPS. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. On average, analysts expect that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.9%. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is 77.78%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.