Perigon Wealth Management LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 96,653 shares of the oil and gas producer's stock, valued at approximately $3,553,000.
A number of other large investors have also modified their holdings of EPD. Everest Financial Group LLC raised its stake 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 valued at $298,000 after acquiring an additional 271 shares in the last quarter. Walker Asset Management LLC raised its holdings in Enterprise Products Partners by 1.4% in the second 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 grew its holdings in 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 worth $791,000 after acquiring an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC grew its holdings 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 acquiring an additional 300 shares in the last quarter. Finally, Mission Wealth Management LP increased its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.
Enterprise Products Partners Stock Performance
Shares of EPD opened at $38.61 on Tuesday. The company's 50 day simple moving average is $37.60 and its 200-day simple moving average is $37.41. The firm has a market cap of $83.38 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.30 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 issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.69 billion. During the same quarter in the prior year, the business earned $0.66 EPS. Enterprise Products Partners's quarterly revenue was up 60.8% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.
Enterprise Products Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.56 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.8%. Enterprise Products Partners's payout ratio is presently 77.78%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. 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. UBS Group reissued a "buy" rating and set a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Weiss Ratings upgraded shares of Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, August 11th. Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, TD Cowen reiterated a "hold" rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.93.
Check Out Our Latest Stock Analysis on EPD
About Enterprise Products Partners
(
Free Report)
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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