Enterprise Products Partners L.P. $EPD Shares Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.2% during the second quarter, Holdings Channel.com reports. The fund owned 255,531 shares of the oil and gas producer’s stock after acquiring an additional 56,158 shares during the period. EP Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $9,393,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $31,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $37,000. Bravera Wealth increased its stake in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 900 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Enterprise Products Partners during the 2nd quarter valued at approximately $48,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Enterprise Products Partners in the second quarter worth $48,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the subject of several research reports. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. TD Cowen restated a “hold” rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday. Finally, Truist Financial boosted their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Stock Down 0.8%

Enterprise Products Partners stock opened at $38.12 on Friday. The business’s 50-day moving average price is $37.67 and its 200 day moving average price is $37.51. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The firm has a market cap of $82.32 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.27 and a beta of 0.49. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17.

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 return on equity of 20.67% and a net margin of 10.79%.The company had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the company posted $0.66 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners’s payout ratio is presently 77.78%.

Enterprise Products Partners Company Profile

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.