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

NewEdge Wealth LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 41.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,138 shares of the oil and gas producer’s stock after buying an additional 16,530 shares during the period. NewEdge Wealth LLC’s holdings in Enterprise Products Partners were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC raised its position in Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after purchasing an additional 3,742 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after buying an additional 1,578 shares in the last quarter. Finally, Glenview Trust co lifted its holdings in Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after buying an additional 25,555 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of EPD opened at $38.41 on Friday. The stock has a 50 day simple moving average of $37.65 and a 200 day simple moving average of $37.51. 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 52-week low of $30.01 and a 52-week high of $40.17. The firm has a market capitalization of $82.95 billion, a PE ratio of 13.34, a P/E/G 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. The business 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%.Enterprise Products Partners’s quarterly revenue was up 60.8% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 3.01 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. TD Cowen reaffirmed a “hold” rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Morgan Stanley reissued an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday. Finally, Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Company 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.