28,733 Shares in Enterprise Products Partners L.P. $EPD Purchased by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services purchased 28,733 shares of Enterprise Products Partners in the second quarter, worth approximately $1.1 million. Institutional investors collectively own 26.07% of EPD.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $40.00. Recent targets range from $41 to $45, although Morgan Stanley remains underweight.
• Enterprise Products Partners reported quarterly EPS of $0.84, exceeding estimates by $0.09, while revenue rose 60.8% year over year to $18.27 billion. The company also increased its quarterly dividend to $0.56 per share, implying a 5.9% annualized yield.

Diversify Advisory Services LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,733 shares of the oil and gas producer's stock, valued at approximately $1,095,000.

Several other hedge funds have also bought and sold shares of the stock. Royal Palms Capital LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at approximately $1,830,000. Oxbow Advisors LLC lifted its holdings in Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer's stock valued at $42,610,000 after purchasing an additional 39,052 shares in the last quarter. Texas Yale Capital Corp. grew its position in shares of Enterprise Products Partners by 4.9% in the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer's stock valued at $61,104,000 after purchasing an additional 88,475 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer's stock worth $144,592,000 after purchasing an additional 327,807 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC increased its stake in shares of Enterprise Products Partners by 7.0% during the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 410,581 shares of the oil and gas producer's stock worth $13,163,000 after purchasing an additional 26,752 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EPD. 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. Morgan Stanley reissued an "underweight" rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday. Wall Street Zen upgraded Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Weiss Ratings raised Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday, August 11th. Finally, UBS Group reissued a "buy" rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $40.00.

Enterprise Products Partners Stock Down 1.4%

EPD stock opened at $38.09 on Thursday. The company has a market cap of $82.25 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.29 and a beta of 0.49. 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 12 month low of $30.01 and a 12 month high of $40.17. The firm has a 50-day moving average of $37.63 and a two-hundred day moving average of $37.47.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $13.69 billion. During the same period in the previous year, the firm posted $0.66 EPS. The business's revenue for the quarter was up 60.8% compared to the same quarter last year. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. Enterprise Products Partners's payout ratio is presently 77.78%.

Enterprise Products Partners Company 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.

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