United Capital Financial Advisors LLC Acquires New Position in Enterprise Products Partners L.P. $EPD

Key Points

• United Capital Financial Advisors acquired 103,083 shares of Enterprise Products Partners, valued at approximately $3.79 million. Institutional investors and hedge funds collectively own 26.07% of EPD.
• Enterprise Products Partners reported quarterly EPS of $0.84, beating estimates of $0.75, while revenue increased 60.8% year over year to $18.27 billion.
• EPD raised its quarterly dividend to $0.56 per share, representing an annualized dividend of $2.24 and a 5.7% yield. Analysts maintain a consensus “Moderate Buy” rating with a $40 average price target.

United Capital Financial Advisors LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 103,083 shares of the oil and gas producer's stock, valued at approximately $3,789,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. Everest Financial Group LLC lifted its holdings in shares of Enterprise Products Partners by 3.6% in the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer's stock valued at $298,000 after buying an additional 271 shares during the period. Walker Asset Management LLC grew its holdings in Enterprise Products Partners by 1.4% during the second quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer's stock worth $745,000 after acquiring an additional 282 shares during the period. Hobbs Group Advisors LLC raised its position in 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 acquiring an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC raised its position in 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 acquiring an additional 300 shares in the last quarter. Finally, Mission Wealth Management LP lifted its holdings in Enterprise Products Partners by 1.0% in the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer's stock valued at $1,037,000 after acquiring an additional 328 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $38.97 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The company's 50-day moving average price is $37.89 and its 200 day moving average price is $37.66. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The stock has a market cap of $84.15 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.28 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) 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 company had revenue of $18.27 billion during the quarter, compared to analysts' expectations of $13.69 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. The firm's quarterly revenue was up 60.8% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.56 per share. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.55. Enterprise Products Partners's payout ratio is presently 77.78%.

Analyst Ratings Changes

EPD has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Scotiabank reissued a "sector perform" rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Citigroup restated a "buy" rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, TD Cowen reaffirmed a "hold" rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report 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 given a Sell rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently 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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