Mayflower Financial Advisors LLC Acquires 2,325 Shares of Enterprise Products Partners L.P. $EPD

Mayflower Financial Advisors LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,212 shares of the oil and gas producer’s stock after purchasing an additional 2,325 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Alps Advisors Inc. grew its stake in shares of Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Enterprise Products Partners by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock worth $375,662,000 after purchasing an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC grew its stake in shares of Enterprise Products Partners by 1.5% in the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock worth $171,022,000 after purchasing an additional 81,135 shares during the last quarter. Hamlin Capital Management LLC grew its stake in shares of Enterprise Products Partners by 1.8% in the second quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock worth $154,896,000 after purchasing an additional 89,987 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its stake in shares of Enterprise Products Partners by 2.8% in the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after purchasing an additional 128,545 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $31.10 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average price is $31.44 and its 200-day moving average price is $31.33. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The stock has a market cap of $67.33 billion, a P/E ratio of 11.56, a P/E/G ratio of 2.23 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is currently 81.04%.

Analyst Ratings Changes

Several analysts recently issued reports on EPD shares. Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Barclays cut their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 2nd. TD Cowen assumed coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. Scotiabank cut their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, September 19th. Finally, Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.