Equitable Holdings Inc. Acquires New Holdings in Enterprise Products Partners L.P. $EPD

Equitable Holdings Inc. acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 210,166 shares of the oil and gas producer’s stock, valued at approximately $7,726,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EPD. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter worth approximately $31,000. N.E.W. Advisory Services LLC acquired a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $37,000. Bravera Wealth raised its holdings in Enterprise Products Partners by 666.7% during the second 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 in the last quarter. Kestra Investment Management LLC bought a new stake in Enterprise Products Partners during the second quarter worth approximately $48,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in Enterprise Products Partners in the second quarter worth approximately $48,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EPD. Truist Financial lifted their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Finally, TD Cowen reiterated a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Enterprise Products Partners Trading Down 0.3%

Enterprise Products Partners stock opened at $39.02 on Friday. The firm has a market cap of $84.26 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.29 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. The firm’s 50 day moving average price is $37.84 and its two-hundred day moving average price is $37.65. 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 (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 company 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 company’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, research analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared 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. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is 77.78%.

About Enterprise Products Partners

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.