NewEdge Advisors LLC Buys 18,663 Shares of Enterprise Products Partners L.P. $EPD

NewEdge Advisors LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 4.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 396,788 shares of the oil and gas producer’s stock after acquiring an additional 18,663 shares during the period. NewEdge Advisors LLC’s holdings in Enterprise Products Partners were worth $15,014,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares during the period. Schnieders Capital Management LLC. raised its holdings in Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC boosted its position in Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after buying an additional 3,742 shares during the period. Guggenheim Capital LLC boosted its position in Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after buying an additional 1,578 shares during the period. Finally, Glenview Trust co grew its holdings in Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after acquiring an additional 25,555 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $37.79 on Friday. The company’s fifty day moving average price is $37.54 and its 200-day moving average price is $37.16. The stock has a market cap of $81.70 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (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 20.80%. The company had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the business earned $0.66 EPS. Enterprise Products Partners’s quarterly revenue was up 60.8% compared to the same quarter last year. On average, 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 issued a dividend of $0.56 per share. The ex-dividend date is 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 5.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EPD. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Saturday. Scotiabank reissued a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Citigroup reiterated a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Finally, TD Cowen reiterated a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $39.93.

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.