Henson Edgewater Management LLC Acquires New Holdings in Enterprise Products Partners L.P. $EPD

Henson Edgewater Management LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 21,183 shares of the oil and gas producer’s stock, valued at approximately $803,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Everest Financial Group LLC boosted its position in Enterprise Products Partners by 3.6% in the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 271 shares during the last quarter. Walker Asset Management LLC grew its stake in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after purchasing an additional 282 shares during the period. Hobbs Group Advisors LLC increased its position in shares of Enterprise Products Partners by 1.4% during the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock valued at $791,000 after purchasing an additional 298 shares during the last quarter. Hunter Associates Investment Management LLC increased its position in shares of Enterprise Products Partners by 3.8% during the 1st 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 during the last quarter. Finally, Mission Wealth Management LP lifted its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EPD shares. Scotiabank reiterated a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Wall Street Zen raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. UBS Group reissued a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, Citigroup restated a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Stock Down 0.2%

Shares of EPD opened at $38.97 on Friday. The stock has a market capitalization of $84.15 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.28 and a beta of 0.49. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The business’s 50 day simple moving average is $37.89 and its 200-day simple moving average is $37.66. 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 (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same period last year, the company posted $0.66 EPS. The business’s revenue was up 60.8% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 3.03 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 issued a $0.56 dividend. 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 annualized dividend and a dividend yield of 5.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 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.