Mission Wealth Management LP raised its stake in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 45.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,100 shares of the oil and gas producer’s stock after buying an additional 14,827 shares during the period. Mission Wealth Management LP’s holdings in Enterprise Products Partners were worth $1,731,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of EPD. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth $31,000. Kestra Investment Management LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at $48,000. State of Wyoming acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $54,000. Tucker Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $55,000. Finally, West Paces Advisors Inc. purchased a new position in Enterprise Products Partners in the 2nd quarter worth about $55,000. 26.07% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
EPD has been the subject of a number of analyst reports. Scotiabank reaffirmed a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. 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. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $39.93.
Enterprise Products Partners Stock Performance
Shares of NYSE EPD opened at $37.86 on Thursday. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The firm has a market capitalization of $81.76 billion, a PE ratio of 13.15, a PEG ratio of 1.36 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $37.56 and a two-hundred day moving average price of $37.29.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The firm’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, July 31st. This is a boost 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 5.9%. Enterprise Products Partners’s payout ratio 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.
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