Berkley W R Corp bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm bought 6,825,000 shares of the oil and gas producer’s stock, valued at approximately $250,887,000. Enterprise Products Partners accounts for about 12.0% of Berkley W R Corp’s portfolio, making the stock its largest position.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $31,000. N.E.W. Advisory Services LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $37,000. Bravera Wealth increased its holdings in shares of Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 900 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $48,000. Finally, Kestra Investment Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $48,000. Institutional investors own 26.07% of the company’s stock.
Analyst Upgrades and Downgrades
EPD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. 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 investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $40.00.
Enterprise Products Partners Price Performance
Shares of Enterprise Products Partners stock opened at $39.09 on Thursday. 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 capitalization of $84.41 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a 50-day simple moving average of $37.79 and a two-hundred day simple moving average of $37.62.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (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 firm had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s revenue was up 60.8% compared to the same quarter last year. Analysts forecast that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.
Enterprise Products Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.56 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) 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.
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