Dearborn Partners LLC Takes Position in Enterprise Products Partners L.P. $EPD

Dearborn Partners LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,546 shares of the oil and gas producer’s stock, valued at approximately $608,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 0.6% during the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after purchasing an additional 260,305 shares in the last quarter. Auto Owners Insurance Co boosted its position in Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after acquiring an additional 31,060,000 shares in the last quarter. Morgan Stanley increased its holdings in shares of Enterprise Products Partners by 4.8% in the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after acquiring an additional 883,983 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after acquiring an additional 1,940,583 shares in the last quarter. Finally, Energy Income Partners LLC lifted its stake in shares of Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after purchasing an additional 80,884 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $38.97 on Friday. 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 quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. 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. The business’s 50 day moving average price is $37.89 and its 200 day moving average price is $37.66.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The company 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 quarterly revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s payout ratio is currently 77.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EPD. Scotiabank restated a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Truist Financial upped their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. UBS Group reissued a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, Citigroup reaffirmed a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

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.