NewEdge Wealth LLC Has $2.06 Million Stock Position in Enterprise Products Partners L.P. $EPD

NewEdge Wealth LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 41.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,138 shares of the oil and gas producer’s stock after acquiring an additional 16,530 shares during the quarter. NewEdge Wealth LLC’s holdings in Enterprise Products Partners were worth $2,064,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EPD. Royal Palms Capital LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $1,830,000. Oxbow Advisors LLC grew its stake in shares of Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after acquiring an additional 39,052 shares in the last quarter. Texas Yale Capital Corp. increased its stake in Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after buying an additional 88,475 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after acquiring an additional 327,807 shares during the period. Finally, Turtle Creek Wealth Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 7.0% in the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 410,581 shares of the oil and gas producer’s stock worth $13,163,000 after buying an additional 26,752 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EPD shares. TD Cowen reiterated a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Scotiabank reiterated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Finally, Citigroup reissued a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.41 on Friday. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The firm’s fifty day simple moving average is $37.65 and its 200 day simple moving average is $37.51. The stock has a market cap of $82.95 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 3.01 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.56 per share. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.8%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 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.