Oppenheimer Asset Management Inc. Has $1.85 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Oppenheimer Asset Management Inc. grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,938 shares of the oil and gas producer’s stock after purchasing an additional 611 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Enterprise Products Partners were worth $1,853,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Thoroughbred Financial Services LLC acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $439,000. Parallel Advisors LLC grew its stake in shares of Enterprise Products Partners by 8.1% in the second quarter. Parallel Advisors LLC now owns 45,635 shares of the oil and gas producer’s stock worth $1,323,000 after acquiring an additional 3,409 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Enterprise Products Partners by 2.2% during the second quarter. Oppenheimer & Co. Inc. now owns 545,928 shares of the oil and gas producer’s stock worth $15,821,000 after acquiring an additional 11,775 shares during the period. Main Street Financial Solutions LLC raised its stake in Enterprise Products Partners by 9.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 8,730 shares of the oil and gas producer’s stock valued at $253,000 after purchasing an additional 770 shares during the last quarter. Finally, BOKF NA boosted its holdings in Enterprise Products Partners by 1.9% in the 2nd quarter. BOKF NA now owns 84,586 shares of the oil and gas producer’s stock valued at $2,451,000 after purchasing an additional 1,598 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Morgan Stanley decreased their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $29.48 on Thursday. The business has a 50 day simple moving average of $29.22 and a 200 day simple moving average of $28.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company has a market capitalization of $64.02 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the previous year, the business posted $0.57 earnings per share. The firm’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.12%. Enterprise Products Partners’s payout ratio is 82.35%.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.