Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Childress Capital Advisors LLC

Childress Capital Advisors LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 9.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 190,867 shares of the oil and gas producer’s stock after purchasing an additional 16,889 shares during the quarter. Enterprise Products Partners comprises about 1.6% of Childress Capital Advisors LLC’s holdings, making the stock its 14th largest holding. Childress Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $5,531,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners during the 2nd quarter worth $25,000. Burkett Financial Services LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $28,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $29,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $29,000. Finally, Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $29.04 on Friday. The firm’s fifty day moving average price is $29.18 and its 200 day moving average price is $28.75. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company has a market capitalization of $63.05 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.23%. The ex-dividend date was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Wall Street Analyst Weigh In

Several research firms have recently commented on EPD. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. decreased their price target on shares of 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. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

About Enterprise Products Partners

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.