Ausdal Financial Partners Inc. Takes Position in Enterprise Products Partners L.P. $EPD

Key Points

• Ausdal Financial Partners initiated a position in Enterprise Products Partners, purchasing 86,317 shares valued at approximately $3.17 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; several firms recently raised their targets.
• Enterprise Products Partners exceeded quarterly earnings and revenue expectations, while increasing its quarterly dividend to $0.56, equivalent to a 5.7% annualized yield.

Ausdal Financial Partners Inc. purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 86,317 shares of the oil and gas producer's stock, valued at approximately $3,173,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners in the 3rd quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $37,000. Bravera Wealth grew its stake in shares of Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock worth $38,000 after acquiring an additional 900 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $48,000. Finally, West Paces Advisors Inc. bought a new position in Enterprise Products Partners during the second quarter valued at approximately $55,000. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Weiss Ratings upgraded Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday, August 11th. Citigroup reissued a "buy" rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Truist Financial raised their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Enterprise Products Partners Stock Up 2.1%

EPD stock opened at $39.09 on Thursday. The business's 50-day moving average price is $37.79 and its 200-day moving average price is $37.62. The stock has a market cap of $84.41 billion, a P/E ratio of 13.57, a PEG ratio of 1.26 and a beta of 0.49. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to analysts' expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm's revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Friday, July 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. Enterprise Products Partners's dividend payout ratio (DPR) is currently 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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