Evanson Financial LLC Purchases New Holdings in Enterprise Products Partners L.P. $EPD

Evanson Financial LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 74,200 shares of the oil and gas producer’s stock, valued at approximately $2,728,000.

A number of other hedge funds have also made changes to their positions in EPD. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $48,000. Tucker Asset Management LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at $55,000. First Pacific Financial raised its stake in Enterprise Products Partners by 1,652.6% in the 1st quarter. First Pacific Financial now owns 1,700 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,603 shares during the last quarter. Finally, Portus Wealth Advisors LLC purchased a new position in Enterprise Products Partners in the 1st quarter valued at $65,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the subject of a number of research reports. Wall Street Zen lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Morgan Stanley set a $40.00 price target on shares of Enterprise Products Partners and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Citigroup restated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.93.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $38.14 on Friday. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The stock’s fifty day moving average is $37.52 and its two-hundred day moving average is $37.15. The company has a market capitalization of $82.45 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.35 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The company’s revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 2.96 EPS 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. Shareholders of record on Friday, July 31st will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s 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.