Evanson Financial LLC Invests $2.73 Million in Enterprise Products Partners L.P. $EPD

Evanson Financial LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 74,200 shares of the oil and gas producer’s stock, valued at approximately $2,728,000.

Other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. grew its stake in Enterprise Products Partners by 0.6% during the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after purchasing an additional 260,305 shares during the last quarter. Auto Owners Insurance Co raised its stake 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 worth $102,784,000 after purchasing an additional 31,060,000 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Enterprise Products Partners by 4.8% during 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 holdings in shares of Enterprise Products Partners by 12.0% during the fourth 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 period. Finally, Energy Income Partners LLC boosted its position in Enterprise Products Partners by 0.6% in the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after buying an additional 80,884 shares during 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 $38.14 on Friday. 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 L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The stock’s 50-day moving average price is $37.52 and its 200-day moving average price is $37.15. The stock has a market capitalization of $82.45 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.Enterprise Products Partners’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.96 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced 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 positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. Enterprise Products Partners’s payout ratio is 77.78%.

Wall Street Analysts Forecast Growth

EPD has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley set a $40.00 price objective on shares of Enterprise Products Partners and gave the company an “underweight” rating in a report on Tuesday, July 21st. Truist Financial increased their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. TD Cowen reissued a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.93.

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.