Diversify Advisory Services LLC Takes Position in Enterprise Products Partners L.P. $EPD

Diversify Advisory Services LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, Holdings Channel.com reports. The fund purchased 28,733 shares of the oil and gas producer’s stock, valued at approximately $1,095,000.

Several other institutional investors have also recently made changes to their positions in EPD. Oxbow Advisors LLC acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $50,300,000. First National Bank of Omaha acquired a new stake in Enterprise Products Partners during the second quarter worth $1,626,000. Navigoe LLC acquired a new stake in Enterprise Products Partners during the second quarter worth $152,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Enterprise Products Partners in the second quarter valued at $59,000. Finally, Energy Income Partners LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $508,461,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EPD shares. Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday. Scotiabank reaffirmed 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. Stifel Nicolaus increased their target price 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. Truist Financial lifted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Finally, TD Cowen reissued a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Price Performance

EPD opened at $38.09 on Thursday. The stock’s 50-day moving average price is $37.63 and its 200 day moving average price is $37.47. 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 current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $82.25 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.29 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 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 analysts’ expectations 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 revenue for the quarter was up 60.8% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners’s payout ratio is 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.