OneDigital Investment Advisors LLC Purchases Shares of 45,480 Enterprise Products Partners L.P. $EPD

Key Points

• OneDigital Investment Advisors acquired 45,480 shares of Enterprise Products Partners worth approximately $1.67 million during the second quarter. Institutional investors collectively own 26.07% of EPD.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $39.93, although ratings range from Morgan Stanley’s “underweight” to multiple “buy” recommendations.
• Enterprise Products Partners 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—a 5.8% annualized yield.

OneDigital Investment Advisors LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 45,480 shares of the oil and gas producer's stock, valued at approximately $1,672,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Auto Owners Insurance Co increased its stake in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer's stock worth $102,784,000 after purchasing an additional 31,060,000 shares during the period. Goldman Sachs Group Inc. lifted its position in Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock valued at $582,317,000 after purchasing an additional 1,940,583 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer's stock valued at $74,859,000 after purchasing an additional 1,313,976 shares during the period. Barclays PLC grew its holdings in shares of Enterprise Products Partners by 57.5% in the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer's stock worth $93,874,000 after purchasing an additional 1,069,304 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new position in shares of Enterprise Products Partners in the second quarter worth approximately $37,905,000. Institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EPD. Morgan Stanley set a $40.00 price target on shares of Enterprise Products Partners and gave the company an "underweight" rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a report on Sunday. The Goldman Sachs Group restated a "neutral" rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Citigroup reiterated a "buy" rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. One investment 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.93.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $38.61 on Tuesday. The business has a 50 day moving average of $37.60 and a 200 day moving average of $37.41. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a market cap of $83.38 billion, a PE ratio of 13.41, 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 (NYSE:EPD - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $18.27 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.98 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. Stockholders of record on Friday, July 31st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.55. Enterprise Products Partners's payout ratio is presently 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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