Enterprise Products Partners L.P. $EPD Shares Purchased by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its EPD stake by 51.5% in the second quarter, purchasing 277,214 additional shares and bringing its holdings to 815,015 shares valued at approximately $30 million. Institutional investors collectively own 26.07% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with a $40 price target. EPD shares opened at $38.97, near the consensus target, while individual firms’ targets range from $38 to $42.
• Enterprise Products Partners exceeded quarterly earnings expectations, reporting $0.84 in EPS and $18.27 billion in revenue, while revenue rose 60.8% year over year. The company also raised its quarterly dividend to $0.56 per share, representing a 5.7% annualized yield.

NEOS Investment Management LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 51.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 815,015 shares of the oil and gas producer's stock after buying an additional 277,214 shares during the quarter. NEOS Investment Management LLC's holdings in Enterprise Products Partners were worth $29,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $37,000. Bravera Wealth boosted its stake in Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock worth $38,000 after purchasing an additional 900 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $48,000. Finally, Kestra Investment Management LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $48,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on EPD. Wall Street Zen cut shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. 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 report on Tuesday, May 12th. TD Cowen restated a "hold" rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. The Goldman Sachs Group reiterated a "neutral" rating and set a $38.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

Enterprise Products Partners Trading Down 0.5%

Shares of Enterprise Products Partners stock opened at $38.97 on Friday. The stock has a market cap of $84.15 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.43 and a beta of 0.50. The firm has a fifty day moving average price of $38.14 and a 200 day moving average price of $37.78. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate 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%. The firm's revenue was up 60.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. Equities research analysts predict that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.7%. This is a positive change 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 is 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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