Redhawk Wealth Advisors Inc. Takes $1.17 Million Position in Enterprise Products Partners L.P. $EPD

Key Points

• Redhawk Wealth Advisors purchased 31,821 shares of Enterprise Products Partners in the second quarter, representing a position valued at approximately $1.17 million. Institutional investors collectively own 26.07% of EPD.
• Analysts maintain a consensus “Hold” rating, with an average price target of $39.93; recent targets range from $40 to $44.
• Enterprise Products Partners exceeded quarterly earnings and revenue expectations, while increasing its quarterly dividend to $0.56 per share. The annualized dividend of $2.24 implies a yield of about 5.9%.

Redhawk Wealth Advisors Inc. purchased a new stake in shares of 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 institutional investor purchased 31,821 shares of the oil and gas producer's stock, valued at approximately $1,170,000.

A number of other large investors have also added to or reduced their stakes in EPD. Everest Financial Group LLC raised its stake in shares of Enterprise Products Partners by 3.6% during 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 during the last quarter. Walker Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% during the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer's stock worth $756,000 after purchasing an additional 296 shares during the period. Hobbs Group Advisors LLC grew its stake in shares of Enterprise Products Partners by 1.4% in the first quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer's stock worth $791,000 after purchasing an additional 298 shares during the last quarter. Hunter Associates Investment Management LLC grew its stake in shares of Enterprise Products Partners by 3.8% in the first 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 last quarter. Finally, Mission Wealth Management LP increased its holdings in Enterprise Products Partners by 1.0% during 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 period. Institutional investors own 26.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on EPD shares. Citigroup reaffirmed a "buy" rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Truist Financial boosted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Scotiabank restated a "sector perform" rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Finally, Wolfe Research upgraded shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of "Hold" and an average target price of $39.93.

Enterprise Products Partners Price Performance

EPD stock opened at $37.87 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The firm has a 50-day moving average of $37.56 and a 200 day moving average of $37.26. The company has a market cap of $81.86 billion, a P/E ratio of 13.15, a PEG ratio of 1.36 and a beta of 0.49.

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 return on equity of 20.80% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to analysts' expectations of $13.69 billion. During the same period in the previous year, the firm posted $0.66 EPS. The business's revenue was up 60.8% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.96 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, July 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. Enterprise Products Partners's dividend payout ratio (DPR) is 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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