Focus Partners Advisor Solutions LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 21,951 shares of the oil and gas producer’s stock, valued at approximately $807,000.
Several other institutional investors have also added to or reduced their stakes in the company. Everest Financial Group LLC lifted its stake in Enterprise Products Partners by 3.6% during the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 271 shares during the last quarter. Walker Asset Management LLC increased its stake in shares of Enterprise Products Partners by 1.4% in the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after purchasing an additional 282 shares during the last quarter. Hobbs Group Advisors LLC raised its holdings in shares of Enterprise Products Partners by 1.4% during the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock worth $791,000 after buying an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC lifted its position in shares of Enterprise Products Partners by 3.8% during the 1st quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after buying an additional 300 shares during the last quarter. Finally, Mission Wealth Management LP lifted its position in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 328 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
EPD has been the topic of several research analyst reports. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. UBS Group restated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Morgan Stanley set a $40.00 price target on shares of Enterprise Products Partners and gave the company an “underweight” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.93.
Enterprise Products Partners Stock Performance
NYSE:EPD opened at $38.61 on Tuesday. The stock’s 50-day moving average is $37.60 and its 200-day moving average is $37.41. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market cap of $83.38 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating 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 business had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same quarter last year, the business earned $0.66 EPS. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 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. Shareholders of record on Friday, July 31st were given a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is currently 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.
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