NewEdge Advisors LLC Increases Holdings in Enterprise Products Partners L.P. $EPD

NewEdge Advisors LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 396,788 shares of the oil and gas producer’s stock after purchasing an additional 18,663 shares during the quarter. NewEdge Advisors LLC’s holdings in Enterprise Products Partners were worth $15,014,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Blue Edge Capital LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter worth about $314,000. Lavelle Capital LP purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $960,000. Allen Capital Group LLC increased its holdings in Enterprise Products Partners by 1.5% during the 1st quarter. Allen Capital Group LLC now owns 25,092 shares of the oil and gas producer’s stock worth $949,000 after acquiring an additional 372 shares during the period. Summit Financial Wealth Advisors LLC increased its holdings in Enterprise Products Partners by 6.4% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 14,605 shares of the oil and gas producer’s stock worth $553,000 after acquiring an additional 880 shares during the period. Finally, Axiom Investment Management LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $1,656,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of several analyst reports. UBS Group reissued a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.93.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $37.79 on Friday. The firm has a market capitalization of $81.70 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The business’s 50-day moving average price is $37.54 and its 200-day moving average price is $37.16.

Enterprise Products Partners (NYSE:EPD) last released its 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. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.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 previous year, the company posted $0.66 EPS. Enterprise Products Partners’s quarterly revenue was up 60.8% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.96 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is 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 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.