Corient Private Wealth LP Purchases New Stake in Enterprise Products Partners L.P. $EPD

Corient Private Wealth LP acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 2,696,410 shares of the oil and gas producer’s stock, valued at approximately $99,119,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $31,000. N.E.W. Advisory Services LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $37,000. Bravera Wealth boosted its holdings in shares of Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after buying an additional 900 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $48,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $48,000. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley reiterated an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Citigroup reissued a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Finally, Stifel Nicolaus boosted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Stock Up 2.1%

Shares of Enterprise Products Partners stock opened at $39.09 on Thursday. The business’s fifty day moving average price is $37.79 and its two-hundred day moving average price is $37.62. 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 company has a market capitalization of $84.41 billion, a P/E ratio of 13.57, a PEG ratio of 1.26 and a beta of 0.49. 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 released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.56 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.7%. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.

Enterprise Products Partners 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.