True North Advisors LLC Invests $5.52 Million in Enterprise Products Partners L.P. $EPD

True North Advisors LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 150,184 shares of the oil and gas producer’s stock, valued at approximately $5,521,000.

Several other institutional investors have also bought and sold shares of the company. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the third quarter valued at $31,000. Kestra Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter valued at $48,000. State of Wyoming bought a new stake in shares of Enterprise Products Partners in the second quarter valued at $54,000. Tucker Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at $55,000. Finally, West Paces Advisors Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth $55,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.09 on Friday. The business’s fifty day moving average is $37.56 and its 200 day moving average is $37.33. The firm has a market cap of $82.24 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.36 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.96 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.56 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday. Citigroup reissued a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.93.

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.