Jefferies Financial Group Inc. Invests $2.08 Million in Enterprise Products Partners L.P. $EPD

Jefferies Financial Group Inc. acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 56,497 shares of the oil and gas producer’s stock, valued at approximately $2,077,000.

Several other hedge funds have also added to or reduced their stakes in the business. AtlasMark Financial Inc acquired a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $201,000. Blue Edge Capital LLC acquired a new position in shares of Enterprise Products Partners during the second quarter worth $221,000. Proficio Capital Partners LLC bought a new stake in shares of Enterprise Products Partners in the second quarter worth $324,000. Pure Financial Advisors LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at $435,000. Finally, Corient Private Wealth LP bought a new position in Enterprise Products Partners during the 2nd quarter worth $99,119,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $38.97 on Friday. The firm has a market capitalization of $84.15 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.28 and a beta of 0.49. The firm’s 50-day moving average price is $37.89 and its 200-day moving average price is $37.66. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $13.69 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue was up 60.8% compared to the same quarter last year. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced 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 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 dividend yield of 5.7%. Enterprise Products Partners’s payout ratio is currently 77.78%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday. UBS Group restated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Finally, Scotiabank restated a “sector perform” rating and issued a $40.00 target price (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 given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

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.