Leading Edge Financial Planning LLC Buys Shares of 16,730 Enterprise Products Partners L.P. $EPD

Leading Edge Financial Planning LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,730 shares of the oil and gas producer’s stock, valued at approximately $615,000. Enterprise Products Partners makes up 0.1% of Leading Edge Financial Planning LLC’s holdings, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at about $31,000. Bravera Wealth raised its position in Enterprise Products Partners by 666.7% during 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 purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at about $48,000. State of Wyoming purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at about $54,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Scotiabank reiterated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. UBS Group reissued a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, Citigroup reissued a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.93.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $38.84 on Friday. The stock has a market capitalization of $83.88 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.39 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. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.61. The firm’s 50-day moving average is $37.58 and its two-hundred day moving average is $37.34.

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 for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share. Equities analysts predict 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 announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is presently 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.