SCS Capital Management LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 556,413 shares of the oil and gas producer’s stock, valued at approximately $20,454,000.
A number of other hedge funds have also bought and sold shares of EPD. Everest Financial Group LLC raised its holdings in Enterprise Products Partners by 3.6% during the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after acquiring an additional 271 shares during the period. Walker Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.4% in the second quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock worth $745,000 after acquiring an additional 282 shares during the period. Hobbs Group Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 1.4% in the first quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock worth $791,000 after acquiring an additional 298 shares during the period. Hunter Associates Investment Management LLC grew its position in shares of Enterprise Products Partners by 3.8% in the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after purchasing an additional 300 shares in the last quarter. Finally, Mission Wealth Management LP raised its stake 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 valued at $1,037,000 after purchasing an additional 328 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.
Enterprise Products Partners Trading Up 2.2%
Shares of EPD stock opened at $38.84 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.61 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 company has a market capitalization of $83.88 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.39 and a beta of 0.49. The business’s fifty day moving average is $37.58 and its 200 day moving average is $37.34.
Enterprise Products Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is 77.78%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. 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. UBS Group reissued a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $39.93.
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.
See Also
- Five stocks we like better than Enterprise Products Partners
- Is Best Buy the AI Winner Hiding in the Electronics Aisle?
- Applied Materials Beat Everything but Wall Street’s Expectations for Margins
- Back From Orbit, Intuitive Machines’ Share Price Enters the Buy Zone
- Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing
Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD – Free Report).
Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.
