NewEdge Advisors LLC Buys 17,762 Shares of Enterprise Products Partners L.P. $EPD

NewEdge Advisors LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 414,550 shares of the oil and gas producer’s stock after purchasing an additional 17,762 shares during the quarter. NewEdge Advisors LLC’s holdings in Enterprise Products Partners were worth $15,239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of EPD. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners in the 3rd quarter valued at $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $37,000. Bravera Wealth lifted its position 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 purchasing an additional 900 shares during the last quarter. Markowski Investments bought a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $46,000. Finally, BOK Financial Private Wealth Inc. bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $48,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley reissued an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. TD Cowen restated a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. UBS Group reiterated a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Stifel Nicolaus initiated coverage on shares of Enterprise Products Partners in a report on Thursday. They set a “hold” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.87.

Enterprise Products Partners Price Performance

EPD opened at $38.94 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The stock has a market capitalization of $84.09 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.50. The company’s 50 day simple moving average is $38.38 and its 200-day simple moving average is $37.87. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.