Dearborn Partners LLC Purchases New Holdings in Enterprise Products Partners L.P. $EPD

Dearborn Partners LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 16,546 shares of the oil and gas producer’s stock, valued at approximately $608,000.

Other large investors have also recently made changes to their positions in the company. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at about $31,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at about $37,000. Bravera Wealth grew its stake in 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 valued at $38,000 after acquiring an additional 900 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at about $48,000. Finally, Kestra Investment Management LLC acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at about $48,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.97 on Friday. The firm’s 50 day moving average price is $37.89 and its 200-day moving average price is $37.66. 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 one year low of $30.01 and a one year high of $40.17. The firm has a market cap of $84.15 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.28 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 net margin of 10.79% and a return on equity of 20.67%. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given 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 (DPR) is 77.78%.

Wall Street Analyst Weigh In

EPD has been the topic of several recent research reports. UBS Group restated a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Citigroup reaffirmed 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. Scotiabank reissued a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $40.00.

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.