Global Retirement Partners LLC Invests $3.19 Million in Enterprise Products Partners L.P. $EPD

Key Points

• Global Retirement Partners acquired 86,928 shares of Enterprise Products Partners worth approximately $3.19 million, while institutional investors overall own 26.07% of the company.
• Analysts maintain a generally positive outlook, with EPD carrying a “Moderate Buy” consensus rating and an average price target of $39.93.
• Enterprise Products Partners exceeded quarterly expectations, reporting $0.84 in EPS and $18.27 billion in revenue, while increasing its quarterly dividend to $0.56 per share for an annualized yield of about 5.8%.

Global Retirement Partners LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 86,928 shares of the oil and gas producer's stock, valued at approximately $3,195,000.

Several other hedge funds have also recently bought and sold shares of the business. Everest Financial Group LLC increased its position in shares of Enterprise Products Partners by 3.6% in the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer's stock worth $298,000 after acquiring an additional 271 shares in the last quarter. Walker Asset Management LLC lifted its holdings in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer's stock valued at $745,000 after acquiring an additional 282 shares in the last quarter. Hobbs Group Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 1.4% during the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer's stock valued at $791,000 after acquiring an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC boosted its position in Enterprise Products Partners by 3.8% during the 1st quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer's stock worth $307,000 after purchasing an additional 300 shares during the period. Finally, Mission Wealth Management LP increased its holdings in Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer's stock valued at $1,037,000 after purchasing an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on EPD. Stifel Nicolaus boosted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Wolfe Research upgraded Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. TD Cowen reiterated a "hold" rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. The Goldman Sachs Group reissued a "neutral" rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, Truist Financial upped their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of "Moderate Buy" and an average target price of $39.93.

Enterprise Products Partners Trading Down 0.1%

Shares of EPD stock opened at $38.84 on Monday. The stock has a 50-day simple moving average of $37.58 and a 200 day simple moving average of $37.37. The stock has a market capitalization of $83.88 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.30 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 fifty-two week low of $30.01 and a fifty-two week high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its 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. 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 during the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the prior year, the business posted $0.66 earnings per share. Enterprise Products Partners's revenue was up 60.8% compared to the same quarter last year. On average, sell-side analysts expect 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 announced 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. The ex-dividend date of this dividend was Friday, July 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 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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