HBK Sorce Advisory LLC Purchases New Shares in Enterprise Products Partners L.P. $EPD

HBK Sorce Advisory LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 15,067 shares of the oil and gas producer’s stock, valued at approximately $568,000.

A number of other large investors have also made changes to their positions in EPD. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Bravera Wealth lifted its holdings in shares of Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 900 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at $48,000. State of Wyoming acquired a new stake in shares of Enterprise Products Partners in the second quarter worth $54,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth $55,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.7%

EPD opened at $38.61 on Tuesday. The firm has a market cap of $83.38 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The business has a 50 day moving average price of $37.60 and a 200 day moving average price of $37.41. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.56 dividend. The ex-dividend date was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup reiterated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday. Scotiabank reaffirmed a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. TD Cowen reiterated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. One 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.93.

Enterprise Products Partners Company 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.