Yukon Wealth Management Inc. Invests $618,000 in Enterprise Products Partners L.P. $EPD

Yukon Wealth Management Inc. bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, HoldingsChannel.com reports. The fund bought 16,816 shares of the oil and gas producer’s stock, valued at approximately $618,000.

Several other hedge funds have also bought and sold shares of EPD. Palisade Asset Management LLC bought a new position in Enterprise Products Partners in the 3rd quarter valued at about $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $37,000. Bravera Wealth lifted its holdings in shares of Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 900 shares during the period. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $48,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $48,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on EPD. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Scotiabank restated 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. Finally, Citigroup restated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Stock Performance

EPD stock opened at $39.02 on Friday. The firm has a market cap of $84.26 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average price of $37.84 and a 200-day moving average price of $37.65. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the prior 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. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.56 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

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.