Henson Edgewater Management LLC Takes Position in Enterprise Products Partners L.P. $EPD

Henson Edgewater Management LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, Holdings Channel reports. The fund acquired 21,183 shares of the oil and gas producer’s stock, valued at approximately $803,000.

A number of other hedge funds also recently bought and sold shares of EPD. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the 3rd quarter valued at $31,000. N.E.W. Advisory Services LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $37,000. Bravera Wealth lifted its stake in shares of 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 worth $38,000 after purchasing an additional 900 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $48,000. Finally, Kestra Investment Management LLC bought a new stake in Enterprise Products Partners during the second quarter valued at about $48,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $38.97 on Friday. The company has a market capitalization of $84.15 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.28 and a beta of 0.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The company’s fifty day moving average price is $37.89 and its 200 day moving average price is $37.66. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.Enterprise Products Partners’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid 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 dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s payout ratio is 77.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Citigroup reaffirmed a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners 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.