Empowered Funds LLC Invests $12.28 Million in Enterprise Products Partners L.P. $EPD

Empowered Funds LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 334,150 shares of the oil and gas producer’s stock, valued at approximately $12,283,000.

Other institutional investors also recently modified their holdings of the company. Auto Owners Insurance Co increased its holdings in shares of Enterprise Products Partners by 3,106.0% in the fourth 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 purchasing an additional 31,060,000 shares in the last quarter. Energy Income Partners LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth $508,461,000. Bank of America Corp DE acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $416,553,000. BlackRock Inc. bought a new position in Enterprise Products Partners in the second quarter valued at about $255,325,000. Finally, Berkley W R Corp acquired a new stake in Enterprise Products Partners in the second quarter worth about $250,887,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Down 0.2%

Shares of NYSE EPD opened at $38.97 on Friday. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The stock has a market cap of $84.15 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.28 and a beta of 0.49. 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 company’s fifty day moving average is $37.89 and its 200-day moving average 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 for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 60.8% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.7%. 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. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 77.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EPD shares. Morgan Stanley restated an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. UBS Group reissued a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Citigroup reaffirmed a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Finally, Scotiabank reissued a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. 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 given a Sell rating to the company. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $40.00.

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.