Yukon Wealth Management Inc. Buys Shares of 16,816 Enterprise Products Partners L.P. $EPD

Yukon Wealth Management Inc. acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 16,816 shares of the oil and gas producer’s stock, valued at approximately $618,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Palms Capital LLC bought a new position in Enterprise Products Partners in the 4th quarter worth $1,830,000. Oxbow Advisors LLC boosted its holdings in Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after acquiring an additional 39,052 shares during the period. Texas Yale Capital Corp. boosted its holdings in Enterprise Products Partners by 4.9% during the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after acquiring an additional 88,475 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Enterprise Products Partners by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after purchasing an additional 327,807 shares during the last quarter. Finally, Evolve Private Wealth LLC grew its position in shares of Enterprise Products Partners by 662.0% in the first quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock valued at $5,846,000 after purchasing an additional 134,218 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EPD shares. Scotiabank reiterated a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Citigroup restated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Truist Financial lifted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Finally, Morgan Stanley restated an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Stock Down 0.3%

NYSE:EPD opened at $39.02 on Friday. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The stock has a 50-day moving average price of $37.84 and a two-hundred day moving average price of $37.65. The stock has a market cap of $84.26 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.29 and a beta of 0.49. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results 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 return on equity of 20.67% and a net margin of 10.79%.The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.56 dividend. 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. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 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.