Jones Financial Companies Lllp lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,632 shares of the oil and gas producer’s stock after purchasing an additional 16,597 shares during the quarter. Jones Financial Companies Lllp’s holdings in Enterprise Products Partners were worth $7,850,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. Royal Palms Capital LLC acquired a new stake in Enterprise Products Partners during the 4th quarter worth approximately $1,830,000. Oxbow Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 3.0% in the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after buying an additional 39,052 shares during the period. Texas Yale Capital Corp. increased its position in shares of Enterprise Products Partners by 4.9% during the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after acquiring an additional 88,475 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after acquiring an additional 327,807 shares during the period. Finally, Evolve Private Wealth LLC raised its holdings in shares of Enterprise Products Partners by 662.0% during the first quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock worth $5,846,000 after acquiring an additional 134,218 shares during the period. Institutional investors own 26.07% of the company’s stock.
Enterprise Products Partners Trading Up 1.0%
Shares of NYSE:EPD opened at $38.38 on Tuesday. The company’s 50-day moving average price is $37.70 and its two-hundred day moving average price is $37.57. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The stock has a market capitalization of $82.89 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49.
Enterprise Products Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.56 per share. The ex-dividend date was Friday, July 31st. This is a positive change 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 5.8%. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Citigroup restated a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. UBS Group reissued a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $40.00.
View Our Latest Report on Enterprise Products Partners
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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