Objectivity Squared LLC Purchases New Stake in Enterprise Products Partners L.P. $EPD

Objectivity Squared LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 48,082 shares of the oil and gas producer’s stock, valued at approximately $1,768,000. Enterprise Products Partners accounts for about 1.0% of Objectivity Squared LLC’s portfolio, making the stock its 16th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter valued at approximately $31,000. N.E.W. Advisory Services LLC bought a new position in shares of Enterprise Products Partners in the second quarter worth about $37,000. Bravera Wealth lifted 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 worth $38,000 after acquiring an additional 900 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $48,000. Finally, State of Wyoming bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $54,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Down 0.7%

Shares of EPD stock opened at $38.61 on Tuesday. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market cap of $83.38 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.30 and a beta of 0.49. The stock has a 50-day moving average of $37.60 and a 200-day moving average of $37.41.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 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 company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.8%. The ex-dividend date was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EPD shares. UBS Group reiterated a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Scotiabank reaffirmed a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. 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 given a Sell rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $39.93.

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.