Principle Wealth Partners LLC Invests $662,000 in Enterprise Products Partners L.P. $EPD

Principle Wealth Partners LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 18,016 shares of the oil and gas producer’s stock, valued at approximately $662,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY boosted its position in Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after acquiring an additional 31,733 shares during the last quarter. Royal Palms Capital LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $1,830,000. Oxbow Advisors LLC raised 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 purchasing an additional 39,052 shares during the last quarter. Texas Yale Capital Corp. lifted its position in shares of Enterprise Products Partners by 4.9% in 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 purchasing an additional 88,475 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Enterprise Products Partners by 7.8% in 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 purchasing an additional 327,807 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $38.61 on Tuesday. The company has a market cap of $83.38 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.30 and a beta of 0.49. The firm’s fifty day moving average price is $37.60 and its two-hundred day moving average price is $37.41. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. Equities analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.56 dividend. The ex-dividend date of this dividend was 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 dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Analyst Ratings Changes

EPD has been the subject of a number of analyst reports. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Scotiabank reissued a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. Finally, Truist Financial lifted their target price 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. One investment 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 presently has an average rating of “Moderate Buy” and a consensus 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.