Wealthcare Advisory Partners LLC Has $2.96 Million Position in Enterprise Products Partners L.P. $EPD

Wealthcare Advisory Partners LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 16.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,573 shares of the oil and gas producer’s stock after selling 15,307 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Enterprise Products Partners were worth $2,962,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EPD. Alps Advisors Inc. raised its holdings in Enterprise Products Partners by 0.6% in the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after acquiring an additional 260,305 shares during the period. Auto Owners Insurance Co grew its position in shares of 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 valued at $102,784,000 after purchasing an additional 31,060,000 shares during the last quarter. Morgan Stanley increased its stake in shares of Enterprise Products Partners by 4.8% in the fourth 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 period. Goldman Sachs Group Inc. lifted its position 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 lifted its position 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 worth $459,829,000 after purchasing an additional 80,884 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. TD Cowen reissued a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Truist Financial increased their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s 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 Price Performance

EPD stock opened at $37.86 on Thursday. 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 market cap of $81.76 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.49. The business’s 50-day simple moving average is $37.56 and its 200 day simple moving average is $37.29. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The firm had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The company’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.56 per share. 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 dividend yield of 5.9%. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Enterprise Products Partners 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.