Bridgewater Advisors Inc. Buys Shares of 27,108 Enterprise Products Partners L.P. $EPD

Key Points

• Bridgewater Advisors initiated a position in Enterprise Products Partners by purchasing 27,108 shares valued at approximately $1.03 million. Institutional investors and hedge funds collectively own 26.07% of EPD.
• Analysts maintain a generally positive outlook, with EPD holding a “Moderate Buy” consensus rating and an average price target of $39.93. Ratings range from “Strong Buy” to “Sell.”
• EPD exceeded quarterly earnings expectations, reporting $0.84 in EPS and $18.27 billion in revenue, while raising its quarterly dividend to $0.56 per share—an annualized yield of about 5.8%.

Bridgewater Advisors Inc. purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 27,108 shares of the oil and gas producer's stock, valued at approximately $1,027,000.

Several other institutional investors and hedge funds have also made changes to their positions in EPD. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Bravera Wealth grew its holdings in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock valued at $38,000 after buying an additional 900 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Enterprise Products Partners during the second quarter worth $48,000. State of Wyoming purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at $54,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $55,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. Truist Financial lifted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Scotiabank reaffirmed 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. Finally, Citigroup reiterated a "buy" rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $39.93.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.84 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.61 and a current ratio of 0.93. The firm has a market capitalization of $83.88 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.39 and a beta of 0.49. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a 50 day moving average price of $37.58 and a 200 day moving average price of $37.34.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. Enterprise Products Partners's revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter last year, the business earned $0.66 EPS. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is presently 77.78%.

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.

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