Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 545,928 shares of the oil and gas producer’s stock after purchasing an additional 11,775 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enterprise Products Partners were worth $15,821,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EPD. Blackstone Inc. grew its stake in shares of Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after buying an additional 1,391,370 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after acquiring an additional 741,237 shares in the last quarter. Energy Income Partners LLC increased its stake in Enterprise Products Partners by 0.9% during the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after purchasing an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in shares of Enterprise Products Partners by 2.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock worth $326,091,000 after purchasing an additional 284,772 shares in the last quarter. Finally, Chickasaw Capital Management LLC boosted its stake in shares of Enterprise Products Partners by 1.6% in the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after purchasing an additional 87,930 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enterprise Products Partners Stock Up 0.9 %

EPD stock opened at $29.41 on Friday. The stock has a market cap of $63.87 billion, a P/E ratio of 11.53, a PEG ratio of 1.47 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The company’s 50 day moving average is $29.18 and its two-hundred day moving average is $28.80.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. Research 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. Investors of record on Wednesday, July 31st were given a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.14%. Enterprise Products Partners’s dividend payout ratio is 82.35%.

Enterprise Products Partners 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.