Lifetime Wealth Management P.C. Purchases New Position in Enterprise Products Partners L.P. $EPD

Key Points

• Lifetime Wealth Management P.C. acquired 56,890 shares of Enterprise Products Partners in the second quarter, valued at approximately $2.1 million and representing 1.2% of its portfolio. Institutional investors collectively own 26.07% of EPD.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $40.00. Ratings range from Strong Buy to Sell.
• Enterprise Products Partners beat quarterly earnings expectations, reporting $0.84 EPS and $18.27 billion in revenue, while increasing its quarterly dividend to $0.56 per share, equivalent to a 5.7% annualized yield.

Lifetime Wealth Management P.C. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,890 shares of the oil and gas producer's stock, valued at approximately $2,091,000. Enterprise Products Partners accounts for about 1.2% of Lifetime Wealth Management P.C.'s holdings, making the stock its 21st largest holding.

A number of other hedge funds have also modified their holdings of the company. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the third quarter worth approximately $31,000. N.E.W. Advisory Services LLC bought a new position in shares of Enterprise Products Partners during the second quarter worth approximately $37,000. Bravera Wealth increased its stake in shares of Enterprise Products Partners by 666.7% during the second 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 during the period. BOK Financial Private Wealth Inc. acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $48,000. Finally, Kestra Investment Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $48,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on EPD shares. UBS Group restated a "buy" rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. 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 note on Tuesday, August 18th. Citigroup reissued a "buy" rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Weiss Ratings raised Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $39.02 on Friday. The company has a 50 day moving average of $37.84 and a 200 day moving average of $37.65. The stock has a market cap of $84.26 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.29 and a beta of 0.49. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion for the quarter, compared to analysts' expectations of $13.69 billion. During the same quarter last year, the company posted $0.66 EPS. The business's quarterly revenue was up 60.8% on a year-over-year basis. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal 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 paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a 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 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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