Tidal Investments LLC Buys 57,860 Shares of Enterprise Products Partners L.P. $EPD

Tidal Investments LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 95.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,324 shares of the oil and gas producer’s stock after buying an additional 57,860 shares during the quarter. Tidal Investments LLC’s holdings in Enterprise Products Partners were worth $4,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. RFG Advisory LLC grew its holdings in Enterprise Products Partners by 1.3% during the second quarter. RFG Advisory LLC now owns 21,636 shares of the oil and gas producer’s stock valued at $795,000 after purchasing an additional 268 shares during the period. Sigma Planning Corp boosted its position in shares of Enterprise Products Partners by 0.8% during the second quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer’s stock worth $1,297,000 after purchasing an additional 270 shares in the last quarter. Everest Financial Group LLC grew its holdings in shares of Enterprise Products Partners by 3.6% in the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after buying an additional 271 shares during the period. Renasant Bank increased its position in shares of Enterprise Products Partners by 1.3% in the 2nd quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer’s stock valued at $778,000 after buying an additional 271 shares in the last quarter. Finally, Walker Asset Management LLC increased its position in shares of Enterprise Products Partners by 1.4% in the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after buying an additional 282 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.4%

Shares of Enterprise Products Partners stock opened at $38.75 on Tuesday. The firm has a market cap of $83.67 billion, a PE ratio of 13.45, a P/E/G ratio of 1.43 and a beta of 0.50. The business’s 50 day simple moving average is $38.42 and its 200 day simple moving average is $37.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. 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 released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to the consensus estimate 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 revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 EPS. On average, analysts predict 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. Investors of record on Friday, July 31st were issued a dividend of $0.56 per share. The ex-dividend date was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.

Analyst Ratings Changes

Several research analysts have weighed in on EPD shares. TD Cowen reiterated a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. UBS Group restated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Stifel Nicolaus assumed coverage on Enterprise Products Partners in a report on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. One equities 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.87.

Enterprise Products Partners Company Profile

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.