Enterprise Products Partners L.P. $EPD Shares Purchased by Vise Technologies Inc.

Vise Technologies Inc. raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 356.2% in the 2nd quarter, Holdings Channel reports. The fund owned 51,215 shares of the oil and gas producer’s stock after acquiring an additional 39,988 shares during the quarter. Vise Technologies Inc.’s holdings in Enterprise Products Partners were worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. MSH Capital Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 83.5% during the second quarter. MSH Capital Advisors LLC now owns 54,057 shares of the oil and gas producer’s stock worth $1,987,000 after purchasing an additional 24,594 shares during the period. AssuredPartners Investment Advisors LLC raised its position in Enterprise Products Partners by 6.0% during the 2nd quarter. AssuredPartners Investment Advisors LLC now owns 15,126 shares of the oil and gas producer’s stock worth $556,000 after buying an additional 855 shares during the last quarter. NewEdge Wealth LLC raised its position in Enterprise Products Partners by 41.7% during the 2nd quarter. NewEdge Wealth LLC now owns 56,138 shares of the oil and gas producer’s stock worth $2,064,000 after buying an additional 16,530 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $48,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $1,095,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EPD. Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Citigroup restated a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday. Stifel Nicolaus increased their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, 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 report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.12 on Friday. The firm’s fifty day simple moving average is $37.67 and its 200-day simple moving average 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 stock has a market cap of $82.32 billion, a PE 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 fifty-two week low of $30.01 and a fifty-two week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced 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 firm had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. Analysts expect that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis 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 was 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.