EP Wealth Advisors LLC Purchases 56,158 Shares of Enterprise Products Partners L.P. $EPD

EP Wealth Advisors LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 28.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,531 shares of the oil and gas producer’s stock after buying an additional 56,158 shares during the quarter. EP Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $9,393,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EPD. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners in the third quarter worth about $31,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners during the 2nd quarter worth about $37,000. Bravera Wealth increased its position in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 900 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $48,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $48,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.8%

NYSE:EPD opened at $38.12 on Friday. The company’s 50-day simple moving average is $37.67 and its 200-day simple moving average is $37.51. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The stock has a market capitalization of $82.32 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.27 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the previous year, the business posted $0.66 EPS. Enterprise Products Partners’s revenue was up 60.8% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current fiscal year.

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. 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 5.9%. Enterprise Products Partners’s payout ratio is currently 77.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. boosted 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. Morgan Stanley restated an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday. Citigroup reaffirmed a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, Scotiabank reiterated a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. One 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 company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

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.