D.A. Davidson & CO. grew its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 489,584 shares of the oil and gas producer’s stock after purchasing an additional 12,990 shares during the period. D.A. Davidson & CO.’s holdings in Enterprise Products Partners were worth $17,997,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in EPD. Alps Advisors Inc. raised its position in Enterprise Products Partners by 0.6% during the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after acquiring an additional 260,305 shares in the last quarter. Auto Owners Insurance Co grew its position in Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after acquiring an additional 31,060,000 shares in the last quarter. Morgan Stanley increased its stake in shares of Enterprise Products Partners by 4.8% during the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock worth $612,870,000 after purchasing an additional 883,983 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after purchasing an additional 1,940,583 shares during the last quarter. Finally, Energy Income Partners LLC raised its holdings in shares of Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after purchasing an additional 80,884 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.
Enterprise Products Partners Stock Performance
NYSE:EPD opened at $38.84 on Friday. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The firm’s fifty day simple moving average is $37.58 and its 200 day simple moving average is $37.34. The company has a current ratio of 0.93, a quick ratio of 0.61 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $83.88 billion, a PE ratio of 13.49, a PEG ratio of 1.35 and a beta of 0.49.
Enterprise Products Partners Increases Dividend
The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 77.78%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. TD Cowen restated a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Scotiabank reaffirmed 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. UBS Group reissued a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, Citigroup reissued a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $39.93.
Get Our Latest Research Report on Enterprise Products Partners
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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