Kingsview Wealth Management LLC Takes $1.46 Million Position in Enterprise Products Partners L.P. $EPD

Kingsview Wealth Management LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,764 shares of the oil and gas producer’s stock, valued at approximately $1,462,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Henson Edgewater Management LLC bought a new stake in Enterprise Products Partners during the second quarter valued at approximately $803,000. Beacon Pointe Advisors LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $30,274,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $4,746,000. Muhlenkamp & Co. Inc. purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $914,000. Finally, Glenview Trust Co bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $1,433,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on EPD shares. UBS Group reiterated a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Morgan Stanley restated 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, August 18th. TD Cowen reiterated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Truist Financial increased their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Finally, Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. One 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Price Performance

EPD stock opened at $38.97 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The firm’s fifty day moving average is $37.89 and its 200 day moving average is $37.66. The firm has a market cap of $84.15 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.28 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue was up 60.8% compared to the same quarter last year. 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 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 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 was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.