United Capital Financial Advisors LLC Acquires New Stake in Enterprise Products Partners L.P. $EPD

United Capital Financial Advisors LLC acquired 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 filing with the SEC. The firm acquired 103,083 shares of the oil and gas producer’s stock, valued at approximately $3,789,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. Royal Palms Capital LLC acquired a new position in Enterprise Products Partners during the 4th quarter valued at approximately $1,830,000. Oxbow Advisors LLC increased its position in Enterprise Products Partners by 3.0% in the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after buying an additional 39,052 shares during the period. Texas Yale Capital Corp. lifted its stake in Enterprise Products Partners by 4.9% in the fourth 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 boosted its holdings in shares of 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 valued at $144,592,000 after acquiring an additional 327,807 shares during the period. Finally, Evolve Private Wealth LLC grew its position in shares of Enterprise Products Partners by 662.0% during the first quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock worth $5,846,000 after acquiring an additional 134,218 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EPD shares. Morgan Stanley reiterated an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. UBS Group reaffirmed a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Truist Financial boosted their price objective 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. Finally, Scotiabank restated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Price Performance

NYSE EPD opened at $38.97 on Friday. The company’s 50 day simple moving average is $37.89 and its 200 day simple moving average is $37.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The firm has a market capitalization of $84.15 billion, a PE ratio of 13.53, a P/E/G ratio of 1.28 and a beta of 0.49. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17.

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. The company had revenue of $18.27 billion for 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%.The company’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 3.03 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 $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.7%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

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.