Jefferies Financial Group Inc. Invests $2.08 Million in Enterprise Products Partners L.P. $EPD

Key Points

• Jefferies Financial Group initiated a $2.08 million position in Enterprise Products Partners by purchasing 56,497 shares during the second quarter. Institutional investors now own 26.07% of EPD.
• Enterprise Products Partners exceeded quarterly expectations, reporting $0.84 in EPS on $18.27 billion in revenue, with revenue rising 60.8% year over year.
• EPD increased its quarterly dividend to $0.56, or $2.24 annually, yielding approximately 5.7%. Analysts maintain a consensus “Moderate Buy” rating with a $40 price target.

Jefferies Financial Group Inc. bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 56,497 shares of the oil and gas producer's stock, valued at approximately $2,077,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AtlasMark Financial Inc acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $201,000. Blue Edge Capital LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $221,000. Proficio Capital Partners LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $324,000. Pure Financial Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $435,000. Finally, Corient Private Wealth LP acquired a new position in Enterprise Products Partners during the second quarter worth $99,119,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $38.97 on Friday. The company's 50 day simple moving average is $37.89 and its 200 day simple moving average is $37.66. The stock has a market capitalization of $84.15 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.28 and a beta of 0.49. 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 L.P. has a 1 year low of $30.01 and a 1 year high of $40.17.

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, topping analysts' consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analysts' expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.Enterprise Products Partners's revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, research analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS 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. Stockholders of record on Friday, July 31st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase 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 currently 77.78%.

Analyst Ratings Changes

EPD has been the subject of several recent analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. JPMorgan Chase & Co. upped 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. Truist Financial boosted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research report on Monday, May 4th. Scotiabank restated a "sector perform" rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Finally, Weiss Ratings upgraded shares of Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday, August 11th. One 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

Enterprise Products Partners 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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