18,016 Shares in Enterprise Products Partners L.P. $EPD Purchased by Principle Wealth Partners LLC

Principle Wealth Partners LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,016 shares of the oil and gas producer’s stock, valued at approximately $662,000.

A number of other institutional investors also recently modified their holdings of the stock. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the third quarter worth approximately $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $37,000. Bravera Wealth increased its holdings in shares of Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 900 shares in the last quarter. Kestra Investment Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $48,000. Finally, State of Wyoming acquired a new position in Enterprise Products Partners during the 2nd quarter worth $54,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.7%

Shares of NYSE EPD opened at $38.61 on Tuesday. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a market cap of $83.38 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.30 and a beta of 0.49. The firm has a 50 day moving average price of $37.60 and a 200 day moving average price of $37.41.

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, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. Analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s payout ratio is 77.78%.

Analysts Set New Price Targets

EPD has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday. 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 set a $40.00 target price on shares of Enterprise Products Partners and gave the company an “underweight” rating in a research report on Tuesday, July 21st. 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, seven have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.93.

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.