Lakewood Asset Management LLC Has $1.45 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Lakewood Asset Management LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,153 shares of the oil and gas producer’s stock after selling 1,014 shares during the quarter. Enterprise Products Partners makes up 1.0% of Lakewood Asset Management LLC’s holdings, making the stock its 28th biggest holding. Lakewood Asset Management LLC’s holdings in Enterprise Products Partners were worth $1,453,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Accordant Advisory Group Inc acquired a new stake in Enterprise Products Partners in the first quarter valued at about $26,000. Burkett Financial Services LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter valued at about $28,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter valued at about $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter valued at about $29,000. Finally, First Command Advisory Services Inc. boosted its stake in shares of Enterprise Products Partners by 130.4% during the first quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 913 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent research reports. Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Trading Up 0.5 %

EPD stock traded up $0.15 during mid-day trading on Friday, reaching $29.17. The company’s stock had a trading volume of 4,136,812 shares, compared to its average volume of 4,649,251. The company has a market cap of $63.34 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The business’s 50 day moving average price is $29.01 and its 200 day moving average price is $28.50. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.525 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. Enterprise Products Partners’s payout ratio is currently 82.35%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.